Update on the acquisition of Ava Trade Ltd

RNS Number : 1622B

Playtech PLC

05 October 2015

 

Playtech plc

('Playtech' or the 'Company')

Update on the acquisition of Ava Trade Ltd.

 Further to its announcement dated 18 September 2015, the Board announces an update on the acquisition of Ava Trade Ltd. ("Ava Trade").

Late on Friday 2 October 2015, the Company received a letter from the Central Bank of Ireland ("CBI") opposing the proposed acquisition of Ava Trade. Having taken legal advice and having regard to the circumstances at hand, the Company will be seeking clarification from the CBI today and to engage with them in order to discuss certain issues raised in the letter which the Company believes can be addressed to the CBI's satisfaction.

The Company has already received approval for the Ava Trade acquisition from the Financial Services Commission in the British Virgin Islands.

In relation to the proposed acquisition of Plus500 Ltd, Playtech continues to work towards securing the one outstanding regulatory approval, having already received approval from the Cyprus Securities Exchange Commission.

An update will be provided in due course.

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For further information contact:

Playtech plc Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Bell Pottinger Andrew Smith, Head of Investor Relations	[phone] [phone]
Bell Pottinger David Rydell / Olly Scott / David Bass / James Newman	[phone]

 

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