Capital Reduction and Tender Offer

RNS Number : 2678N

Sportech PLC

28 September 2021

 

For immediate release

28 September 2021

Sportech PLC

("Sportech" or the "Company")

Capital Reduction and Tender Offer

Expected Timetable

Sportech (AIM: SPO), an international betting technology business, is pleased to announce that the final hearing in the Court process to reduce its share capital (the "Capital Reduction") to create a distributable reserve necessary to implement its tender offer (the "Tender Offer") took place earlier today and the Court pronounced an order approving the Capital Reduction.

Further details of the Capital Reduction and the Tender Offer are set out in the circular sent to the Company's shareholders on 6 August 2021 (the "Circular").  A copy of the Circular is available on the Company's website at www.sportechplc.com .

An updated expected timetable in connection with the Capital Reduction and Tender Offer is set out below. 

	2021
Expected date of registration of the Court Order and the Capital Reduction becoming effective	29 September
Latest time and date for receipt of Tender Forms and submission of TTE Instructions from Shareholders	1.00 p.m. on 13 October
Record date and time for the Tender Offer	6.00 p.m. on 13 October
Results of Tender Offer elections announced	14 October
CREST Settlement Date: payments through CREST and CREST accounts settled	21 October
Balancing share certificates and cheques despatched to certificated Shareholders	21 October

Note

The times and dates set out in this timetable are based on the Company's current expectations and are subject to change. The times and dates are indicative only.  Any changes to the timetable will be notified to Shareholders by an announcement made by the Company through a Regulatory Information Service.  References to times in this document are to London time.

- Ends -

Contacts
Sportech PLC Giles Vardey, Chairman Andrew Lindley, Chief Executive Officer Nicola Rowlands, Chief Financial Officer	[e-mail]
Peel Hunt (Nominated Adviser & Broker) George Sellar Andrew Clark Will Bell	Tel: [phone]
Buchanan (Financial Communications) Henry Harrison-Topham Jamie Hooper George Beale	Tel: [phone] [e-mail]

Notes to Editors

About Sportech

Sportech PLC, an international betting technology business, delivers solutions and services for gaming companies and lottery clients in highly regulated markets. Sportech also owns and operates gaming venues and digital betting platforms in Connecticut under exclusive licences.

 

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