Capital Reduction and Tender Offer

RNS Number : 2678N
Sportech PLC
28 September 2021
 

For immediate release

28 September 2021

Sportech PLC

("Sportech" or the "Company")

 

Capital Reduction and Tender Offer

Expected Timetable

 

Sportech (AIM: SPO), an international betting technology business, is pleased to announce that the final hearing in the Court process to reduce its share capital (the "Capital Reduction") to create a distributable reserve necessary to implement its tender offer (the "Tender Offer") took place earlier today and the Court pronounced an order approving the Capital Reduction.

 

Further details of the Capital Reduction and the Tender Offer are set out in the circular sent to the Company's shareholders on 6 August 2021 (the "Circular").  A copy of the Circular is available on the Company's website at www.sportechplc.com .

 

An updated expected timetable in connection with the Capital Reduction and Tender Offer is set out below. 


2021

Expected date of registration of the Court Order and the Capital Reduction becoming effective

29 September

Latest time and date for receipt of Tender Forms and submission of TTE Instructions from Shareholders

1.00 p.m. on 13 October

Record date and time for the Tender Offer

6.00 p.m. on 13 October

Results of Tender Offer elections announced

14 October

CREST Settlement Date: payments through CREST and CREST accounts settled

21 October

Balancing share certificates and cheques despatched to certificated Shareholders

21 October

 

Note

The times and dates set out in this timetable are based on the Company's current expectations and are subject to change. The times and dates are indicative only.  Any changes to the timetable will be notified to Shareholders by an announcement made by the Company through a Regulatory Information Service.  References to times in this document are to London time.

 

- Ends -

 

Contacts


Sportech PLC

Giles Vardey, Chairman

Andrew Lindley, Chief Executive Officer

Nicola Rowlands, Chief Financial Officer

 

enquiries@sportechplc.com  

Peel Hunt (Nominated Adviser & Broker)

George Sellar

Andrew Clark

Will Bell

 

Tel: +44 (0) 20 7418 8900

Buchanan (Financial Communications)

Henry Harrison-Topham

Jamie Hooper

George Beale

Tel: +44 (0) 20 7466 5000

sportech@buchanan.uk.com

 

Notes to Editors

 

About Sportech

Sportech PLC, an international betting technology business, delivers solutions and services for gaming companies and lottery clients in highly regulated markets. Sportech also owns and operates gaming venues and digital betting platforms in Connecticut under exclusive licences.

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