Sportech PLC

Capital Reduction

RNS Number : 7989J
Sportech PLC
25 August 2021
 

For immediate release

25 August 2021

 

 

Sportech PLC

("Sportech" or the "Company")

 

Capital Reduction

 

Sportech (AIM: SPO), an international betting technology business, is pleased to announce that, following the approval by shareholders at a general meeting held on 23 August 2021, the process to reduce its share capital (the "CapitalReduction") to create a distributable reserve necessary to implement its tender offer (the "Tender Offer"), has commenced.

 

Further details concerning the Capital Reduction and the Tender Offer are set out in the circular sent to the Company's shareholders dated 6 August 2021.

 

Following a hearing at the Court of Session at Edinburgh earlier today, the Court has ordered that the Company advertise its Petition and seek answers thereto.  Following that advertisement and the fixing of the date for the final hearing, the Company will announce the expected timetable for the next steps of the Capital Reduction and the Tender Offer.

 

- Ends -

 

Contacts:


Sportech PLC

Giles Vardey, Chairman

Richard McGuire, Chief Executive Officer

Tom Hearne, Chief Financial Officer

 

 

[email protected]

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

[email protected]

 

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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