Consob approval of offer for Snaitech S.p.A.
Playtech PLC
("Playtech" or the "Group")
Consob approval of the offering document relating to Playtech's acquisition of Snaitech S.p.A. ("Snaitech")
22 June 2018
Further to the announcement dated 5 June 2018, Playtech today announces that Consob, the supervisory authority for the Italian financial market, has approved the offering document (the "Offering Document") relating to the mandatory takeover offer (the "Mandatory Takeover Offer") for the remaining shares of Snaitech not owned by the Group.
As at the date of this announcement, Playtech holds almost 81.0 per cent. of the issued share capital of Snaitech, as a result of the acquisition of approximately 70.6 per cent plus market purchases of approximately 10.3 per cent.
The acceptance period for the Mandatory Takeover Offer (the "Acceptance Period") will start at 8:30 am (CEST) on 26 June 2018 and will end at 5:30 pm (CEST) on 23 July 2018. The consideration, equal to Euro 2.19 per share tendered in the Offer (the "Consideration") will be paid to the tendering shareholders on 30 July 2018 (the "Payment Date").
If certain conditions are met, the Acceptance Period will be reopened for a further five trading days starting from 31 July 2018, being the trading day following the Payment Date and ending on 6 August 2018 (the "Reopening of Terms"). In the event of the Reopening of Terms, the payment of the Consideration for the shares that have been tendered during the Reopening of Terms period will take place on 13 August 2018.
The Offering Document containing the specific terms and conditions of the Offer, as well as the procedures to adhere to it, will be published on Snaitech's website (http://Snaitech.it) and on the website of the Global Information Agent (www.sodali-transactions.com).
Mor Weizer, Chief Executive Officer of Playtech, and Andrew Smith, Chief Financial Officer of Playtech, have been appointed to the Board of Snaitech.
For further information please contact:
|
Playtech plc James Newman, Head of Investor Relations |
+44 (0) 16 2464 5954 |
|
Headland (PR adviser to Playtech) Lucy Legh / Stephen Malthouse |
+44 (0) 20 3805 4822 |
- Ends -
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