Intention to Return Capital to Shareholders

RNS Number : 3006Y

Sportech PLC

02 March 2017

 

2 March 2017

Sportech PLC

("Sportech" or the "Company")

Intention to return capital to shareholders

Sportech, one of the world's leading pool betting organisations, today announces that the Board has resolved to return approximately £20 million to shareholders by way of a tender offer to be implemented during the current tax year (the "Tender Offer").

The Tender Offer will be effected by using the Company's existing authorities to repurchase ordinary shares and is therefore not subject to shareholder approval.

A circular containing the terms and conditions and details of how eligible shareholders will be able to participate in the Tender Offer will be posted to shareholders in due course.

This announcement contains inside information.

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For further information, please contact: 

Sportech PLC                                                   ​020 7268 2400

Ian Penrose, Chief Executive

Mickey Kalifa, Chief Financial Officer

Brunswick Group LLP                                     ​020 7404 5959

Mike Smith

Stuart Donnelly                                                   [e-mail]

Investec Bank PLC                                          ​020 7597 4000

Patrick Robb

Henry Reast

Peel Hunt LLP​                                                  020 7418 8900

Dan Webster

 

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