TIDMPTEC
RNS Number : 1850M
Playtech PLC
20 May 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF
THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN
ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF
THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE,
NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE.
FOR IMMEDIATE RELEASE
20 May 2022
Playtech plc
("Playtech" or "the Company")
Update re: Possible Offer
On 3 February 2022, the Board of Playtech (the "Board")
confirmed that it had been contacted by TTB Partners Limited on
behalf of an investor group to be formed and advised by it ("TTB")
requesting that Playtech consent to release TTB from its
restrictions under Rule 2.8 of the Code (the "Restrictions") to
allow an offer for the Company to be considered.
Absent this release, TTB was bound by the Restrictions for a
period of six months, ending 20 May 2022 (the "Restricted Period").
The Independent Committee of the Board of Playtech (the
"Independent Committee") notes that the Restricted Period in
respect of TTB has expired.
In accordance with Rule 2.6 of the Code, TTB must by 5.00pm on
17 June 2022, being the 28th day following the end of the
Restricted Period, announce (i) its firm intention to make an offer
in accordance with Rule 2.7, or (ii) that it does not intend to
make an offer, in which case the announcement will be treated as a
statement to which Rule 2.8 applies. This deadline can only be
extended with the consent of the Panel on Takeovers and Mergers
(the "Panel") in accordance with Rule 2.6(c) of the Code.
Discussions between the Company and TTB are ongoing and progress
continues to be made. There continues to be no certainty that an
offer will be made, or the terms on which any offer may be made.
The Independent Committee is conscious that TTB has been
considering a possible offer for Playtech for 15 weeks. The
Independent Committee continues to explore options for maximising
shareholder value, and reiterates the strong performance of the
Group, as announced to the market on 5 May 2022, which has
continued through the month of April and into the month of May.
This announcement has been made without the prior consent of
TTB. This is not an announcement of a firm intention to make an
offer, and there can be no certainty that an offer will be made,
nor as to the terms on which any offer will be made.
The person responsible for making this announcement is Chris
McGinnis, Director of Investor Relations & Strategic
Analysis.
Enquiries:
Playtech
Chris McGinnis, Director of Investor Relations & Strategic
Analysis
+44 (0)16 2464 5954
Wells Fargo Securities (Lead Financial Adviser and Rule 3
Adviser to Playtech)
Brian Maier, Vice Chairman
Sam Small
Chris Tucker
+44 (0)20 3942 9625
Goodbody (Financial Adviser and Joint Broker to Playtech)
Piers Coombs
Charlotte Craigie
Stephen Kane
+353 1 667 0400
Jefferies International Limited (Financial Adviser and Joint
Broker to Playtech)
Tim Lloyd Hughes
Max Jones
Philip Noblet
James Thomlinson
+44 (0)20 7029 8000
Headland (PR Adviser to Playtech)
Lucy Legh
Stephen Malthouse
Tom James
Jack Gault
+44 (0)20 3805 4822
Playtech@headlandconsultancy.com
Important Notice
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or solicitation of any offer
to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of, any securities or the solicitation of any vote or
approval in any jurisdiction, whether pursuant to this announcement
or otherwise.
The release, distribution or publication of this announcement in
jurisdictions outside the United Kingdom may be restricted by laws
of the relevant jurisdictions and therefore persons into whose
possession this announcement comes should inform themselves about,
and observe, any such restrictions. Any failure to comply with the
restrictions may constitute a violation of the securities law of
any such jurisdiction.
Notices Related to the Financial Advisers
Wells Fargo Securities International Limited, a subsidiary of
Wells Fargo & Company trading as "Wells Fargo Securities", is
authorised and regulated by the Financial Conduct Authority ("FCA")
in the United Kingdom. Wells Fargo Securities is acting exclusively
as financial adviser to Playtech and will not be responsible to
anyone other than Playtech for providing the protections afforded
to its client, or for providing advice in relation to the matters
set out in this announcement.
Goodbody Stockbrokers UC is authorised and regulated by the
Central Bank of Ireland and is also subject to regulation by the
FCA. Goodbody Stockbrokers UC are acting exclusively for the
Company and will not be responsible to any person other than the
Company for providing the protections afforded to their clients or
for providing advice in relation to the contents of this
announcement.
Jefferies International Limited, which is authorised and
regulated in the UK by the Financial Conduct Authority, is acting
exclusively for Playtech and no one else in connection with the
matters set out in this announcement and shall not be responsible
to anyone other than Playtech for providing the protections
afforded to clients of Jefferies International Limited, nor for
providing advice in connection with the matters set out in this
announcement. Neither Jefferies International Limited nor any of
its subsidiaries, affiliates or branches owes or accepts any duty,
liability or responsibility whatsoever (whether direct, indirect,
consequential, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of Jefferies
International Limited in connection with this announcement, any
matter or statement contained herein or otherwise.
Publication of this Announcement
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be made available on the Company's website
(www.Playtech.com) by no later than 12 noon (London time) on 23 May
2022. The content of the website referred to in this announcement
is not incorporated into and does not form part of this
announcement.
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END
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