Termination of discussions with Contagious Gaming

RNS Number : 9232E

Sportech PLC

06 November 2015

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

6 November 2015                                                                                              

Sportech PLC ("Sportech" or the "Group")

Termination of discussions with Contagious Gaming Inc. ("Contagious Gaming")

The Board of Sportech announces that it has not received an offer proposal from Contagious Gaming which is capable of being implemented or recommended. Accordingly, discussions with Contagious Gaming regarding a potential offer for Sportech have now been terminated.

This statement is subject to Rule 2.8 of the City Code on Takeovers and Mergers and has been made with the approval of Contagious Gaming.

The Board has recently received more than one preliminary proposal in respect of The Football Pools and will be reviewing the terms of these proposals in due course. A further announcement will be made if appropriate.

The Board remains focused on developing the growth opportunities for each of the Group's divisions and on maximising value for shareholders.

For further information, please contact:

Sportech PLC                                                                                              020 7268 2400

Ian R Penrose, Chief Executive

Cliff Baty, Chief Financial Officer

Brunswick Group LLP                                                                                 020 7404 5959

Mike Smith

Stuart Donnelly

[e-mail]

Investec Bank PLC                                                                               020 7597 5169

Patrick Robb

Henry Reast

No offer or solicitation

This announcement does not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

Rule 26.1 disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on the Sportech website by no later than 12 noon on the business day following the date of this announcement: www.sportechplc.com/investors.

Other

Investec Bank plc, which is authorised in the United Kingdom by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is acting as financial adviser to Sportech and no-one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Sportech for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

 

END

 

 

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