Sportech PLC The Football Pools - Termination of discussions (9599N)
November 01 2016 - 3:53AM
UK Regulatory
TIDMSPO
RNS Number : 9599N
Sportech PLC
01 November 2016
Sportech PLC
("Sportech")
The Football Pools - Termination of discussions
The Board of Sportech announces that discussions with Burlywood
Capital LLP ("Burlywood") regarding the proposed GBP97.25m sale of
The Football Pools have now terminated.
Ian Penrose, Chief Executive, commented:
"Burlywood was unable to conclude the transaction set out within
their proposal which we announced in September. The Football Pools
is a valuable asset which has been transformed following a lengthy
modernisation programme. We will continue to focus on maximising
opportunities for the business."
This announcement contains inside information.
For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Mickey Kalifa, Chief Financial Officer
Investec Bank PLC 020 7597 5970
Chris Treneman (Corporate Finance)
James Rudd (Corporate Finance)
Patrick Robb (Corporate Broking)
Henry Reast (Corporate Broking)
Brunswick Group LLP 020 7404 5959
Mike Smith
Stuart Donnelly
sportech@brunswickgroup.com
Forward-looking statements
Certain statements in this announcement are, or may be deemed to
be, "forward-looking statements". These statements are based on
current expectations and projections about future events, and are
therefore subject to risks and uncertainties which could cause
actual results to differ materially from the future results
expressed or implied by the forward-looking statements.
Forward-looking statements include statements typically
containing words such as "plans", "expects", "is expected", "is
subject to", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", "believes", "targets", "aims", "projects"
or words or terms of similar substance or the negative of those
terms, as well as variations of such words and phrases, or
statements that certain actions, events or results "may", "could",
"should", "would", "might" or "will" be taken, occur or be
achieved. Although Sportech PLC believes that the expectations
reflected in such forward-looking statements are reasonable,
neither Sportech PLC nor any of its directors, officers or
advisers, provides any representation, assurance or guarantee that
the occurrence of the events expressed or implied in any forward
looking statements in this announcement will actually occur.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that will occur in the future. These factors include:
general business and economic conditions globally, industry trends,
changes in consumer habits and preferences, competition, changes in
government and other regulation (including licensing) and policy,
including in relation to the environment, health and safety and
taxation, labour relations and work stoppages, interest rates and
currency fluctuations, changes in its business strategy, the
outcome of any litigation, IT system and technology failures,
political and economic uncertainty, and other factors, many of
which are beyond Sportech PLC's control. If any one or more of
these risks or uncertainties materialises, or if any one or more of
the assumptions prove incorrect, actual results may differ
materially from those expected, estimated or projected. Such
forward-looking statements should therefore be construed in the
light of such factors.
Given these risks and uncertainties, investors should not place
any undue reliance on these forward-looking statements, which speak
only as of the date hereof. Other than in accordance with its legal
or regulatory obligations (including under the Listing Rules and
the Disclosure Guidance and Transparency Rules), Sportech PLC is
not under any obligation and expressly disclaims any intention or
obligation to update such statements, whether as a result of new
information, future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 01, 2016 03:53 ET (07:53 GMT)