Update on acquisition of Plus500 Ltd

RNS Number : 2843T

Playtech PLC

16 July 2015

 

Playtech plc

("Playtech," the "Company" or the "Group")

Update on acquisition of Plus500 Ltd

Playtech (LSE: PTEC) notes the results of  Plus500 Ltd ("Plus500") General Meeting held today in connection with the Group's recommended cash acquisition of Plus500.

The Company is delighted to have secured the support of Plus500's shareholders for its 400 pence per share offer and Playtech looks forward to integrating Plus500 into its growing Financials division, which was established with the acquisition of TradeFX.

Mor Weizer, Chief Executive Officer of Playtech said:

"We are delighted to have secured the support of Plus500's shareholders. The combination of TradeFX and Plus500 will enable us to apply our market-leading products and services to the enlarged financial trading business as we continue to execute our growth strategy for the Group."

Playtech expects to issue a circular to Shareholders later this month convening a general meeting to seek approval for the acquisition of Plus500.

For the avoidance of doubt, the approval of shareholders relating to the proposed acquisition of Ava Trade Ltd. that was announced by the Company on 1 July 2015 is being sought at a separate general meeting on 28 July 2015. A separate circular was posted to Shareholders on 8 July 2015 in relation to that transaction.

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For further information contact

Playtech PLC c/o Bell Pottinger Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer Andrew Smith, Head of Investor Relations	[phone]
Canaccord Genuity Limited                                       Bruce Garrow Piers Coombs Mark Whitmore	[phone]
Bell Pottinger David Rydell / Olly Scott / David Bass / James Newman / Laura Jaques	[phone]

 

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