Appointment of Non-Executive

RNS Number : 3378I

Playtech Limited

10 March 2010

 



Playtech Limited ("Playtech")

Appointment of Non-Executive Director

Board Restructuring to Meet Combined Code of Corporate Governance

Playtech Limited, (AIM:PTEC) the international software and content provider to the online and land-based gaming industry, is pleased to announce that it has appointed Barry Gibson as an additional independent Non-Executive Director.

Mr Gibson is an experienced non-executive director and has significant experience in the gaming industry, both as an executive and non-executive director. Until June 2009, he was Senior Independent Director at William Hill plc, where he served on their board for over seven years. Previously, he had been CEO of Littlewoods plc, which, at that time incorporated Littlewoods Pools and Bet Direct. He is also Chairman of Homeserve plc.

Concurrently, Playtech has restructured its Board of Directors (the "Board") and now meets the requirements, in terms of board composition and independence, of the Combined Code of Corporate Governance. Tom Hall, Non-Executive Director and former Chief Executive Officer, and Rafi Askhenazi, Executive Director and Chief Operating Officer, have resigned from the Board and will step down.

Mr Hall and Mr Askhenazi have served as Directors since Playtech's admission to the Alternative Investment Market in 2006.

Following these changes, the Board of Playtech will consist of:

Roger Withers           (Non-Executive Chairman)

Mor Weizer                (CEO)

Shuki Barak               (Interim CFO)

Alan Jackson             (Non-Executive and SID)

Barry Gibson             (Non-Executive)

Commenting on these changes Playtech's Chairman, Roger Withers, said:

"I am delighted to welcome Barry to the Board of Playtech. He brings considerable experience both of the gaming industry and of the public markets.

"At the same time my sincere thanks go to Tom Hall and Rafi Askhenazi who have made important contributions to Playtech's businesses in Asia and as COO respectively. I am pleased that each will continue to play a role for the company.

"This restructuring is an important step for Playtech. Importantly, we now meet the required standards of corporate governance, something we have always looked to achieve. While the Board is now Combined Code compliant, we expect to make further Board appointments in the coming months, including a replacement Chief Financial Officer, where an extensive search is well underway."

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For further information contact:

Roger Withers, Chairman Playtech Ltd Ross Hawley, Investor Relations, Playtech Ltd c/o Pelham Bell Pottinger	[phone]
Piers Coombs / Bruce Garrow Collins Stewart	[phone]
Mumtaz Naseem Deutsche Bank	[phone]
David Rydell / Olly Scott / Samantha Boston Pelham Bell Pottinger	[phone]

Barry Gibson was non-executive director at William Hill plc from 2002-09, and most recently was senior non-executive director and Chairman of the Remuneration Committee.  Mr Gibson is senior non-executive director at Homeserve plc, and formerly a non-executive director at National Express plc, Littlewoods plc and Somerfield plc

In accordance with Rule 17 and Paragraph (g) of Schedule 2 of the AIM Rules for Companies, further information in relation to the appointments is set below:

Name: John Michael Barry Gibson (Age 58)

Present directorships and/or partnerships:

Harding Brothers Retail Ltd Harding Brothers Holdings Ltd Homeserve Plc SSP Group Ltd

Former directorships and/or partnerships (within the last five years):

National Express Group Plc Retail Trust Ltd Retail Trust Events Ltd Retail Trust Services Ltd Somerfield Ltd Somerfield ESOP Trustee Ltd The British Institute of Retailing The Onboard Spa Company Ltd William Hill Plc

At the date of his appointment as a director, Mr Gibson did not own any ordinary shares in Playtech.

No further disclosures are required under Schedule 2(g) of the AIM Rules for Companies.

About Playtech

Playtech develops unified software platforms for the online and land based gambling industry, primarily targeting existing online operators wanting to upgrade their system; sportsbooks looking to diversify and land-based operators making their online debut. Playtech gaming applications - online casino, poker, bingo, mobile gaming, live gaming, land-based kiosk networks and fixed-odds games - are fully inter-compatible and can be freely incorporated as stand-alone applications, accessed and funded by players through the same user account and managed by the operator by means of a single powerful management interface. Founded in 1999, Playtech has more than 800 personnel distributed globally, around seventy five percent of whom are engaged in research and development of current and future gaming technologies.

www.playtech.com

 

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