Termination of discussions with William Hill PLC

RNS Number : 9419E

888 Holdings plc

16 February 2015

 

16 February 2015

888 Holdings Public Limited Company

(the "Company")

Termination of discussions with William Hill PLC

The Company confirmed on 10 February 2015 that it had received an approach regarding a possible offer for the Company by William Hill PLC ("William Hill"), but that there was no certainty that any firm offer would be made nor as to the terms on which any firm offer might be forthcoming.

The Board of the Company and the representatives of the principal shareholder trusts, together with their respective advisers, have had a number of discussions with William Hill and its advisers concerning a possible recommended offer, valued at 200 pence plus a 3 pence dividend per share.  Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the Board of the Company has agreed with William Hill to terminate discussions.

Brian Mattingley, Chief Executive Officer of the Company, said:

"The Company is in good health and continues to trade comfortably in line with expectations.  The Company will announce its full year results on 24 March 2015 and the Board of the Company looks forward to the future with confidence."

A copy of this announcement will shortly be available at www.888holdingsplc.com.

The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Ends

For further information, please refer to the Company website www.888holdingsplc.com or contact:

888 Holdings plc Brian Mattingley, Chief Executive Officer Aviad Kobrine, Chief Financial Officer	c/o Hudson Sandler
Investec Bank plc (Joint Financial Adviser and Sole Broker) Garry Levin Duncan Williamson David Anderson	Tel: [phone]
Morgan Stanley (Joint Financial Adviser) Michele Colocci Edward King Laurence Hopkins	Tel: [phone]
Hudson Sandler (Public Relations) Andrew Hayes Alex Brennan Michael Sandler	Tel: [phone]

Investec Bank plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for the Company and no one else in connection with the contents of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Investec or for providing advice in relation to or in connection with the matters referred to in this announcement.

Morgan Stanley & Co. International plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively for the Company and no one else in connection with the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Morgan Stanley & Co. International plc nor for providing advice in relation to or in connection with the matters referred to in this announcement.

 

END

 

 

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