Sportech PLC Capital Reduction (7989J)
August 25 2021 - 12:00PM
UK Regulatory
TIDMSPO
RNS Number : 7989J
Sportech PLC
25 August 2021
For immediate release 25 August 2021
Sportech PLC
("Sportech" or the "Company")
Capital Reduction
Sportech (AIM: SPO), an international betting technology
business, is pleased to announce that, following the approval by
shareholders at a general meeting held on 23 August 2021, the
process to reduce its share capital (the "Capital Reduction") to
create a distributable reserve necessary to implement its tender
offer (the "Tender Offer"), has commenced.
Further details concerning the Capital Reduction and the Tender
Offer are set out in the circular sent to the Company's
shareholders dated 6 August 2021.
Following a hearing at the Court of Session at Edinburgh earlier
today, the Court has ordered that the Company advertise its
Petition and seek answers thereto. Following that advertisement and
the fixing of the date for the final hearing, the Company will
announce the expected timetable for the next steps of the Capital
Reduction and the Tender Offer.
- Ends -
Contacts:
Sportech PLC
Giles Vardey, Chairman enquiries@sportechplc.com
Richard McGuire, Chief Executive
Officer
Tom Hearne, Chief Financial
Officer
Peel Hunt (Nominated Adviser Tel: +44 (0) 20 7418 8900
& Broker)
George Sellar
Andrew Clark
Will Bell
Buchanan (Financial Communications) Tel: +44 (0) 20 7466 5000
Henry Harrison-Topham sportech@buchanan.uk.com
Jamie Hooper
George Beale
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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END
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