REG - Adams PLC - Investment <Origin Href="QuoteRef">ADAA.L</Origin>

AdamsAnnouncement

29/02/2016 15:30

RNS Number : 5044Q
Adams PLC
29 February 2016
Adams plc
("Adams" or the "Company")
Investment in GVC Holdings PLC ("GVC")
The Directors announce that, on 26 February 2016, Adams acquired a further holding of 63,000 ordinary shares of 0.01 in GVC on the Main Market of the London Stock Exchange at an average price of 475.25 pence per share for a total cash consideration of 299,400. Adams also has an existing holding of 23,753 shares in GVC which were issued by GVC in exchange for the Company's shareholding in bwin.party digital entertainment plc ("bwin.party") in connection with GVC's acquisition of the entire issued ordinary share capital of bwin.party on 1 February 2016. As a result, Adams now has a total holding of 86,753 shares in GVC obtained for a total investment of 505,400 (389,030). The Company's holding in GVC represents 0.03% of the currently issued ordinary share capital of GVC of 291,819,949 shares.
GVC is a multinational online gaming and sports betting group. Following the acquisition of bwin.party on 1 February 2016, the enlarged GVC group now has over 3,200 employees or co-workers and operates some of the leading brands in the gaming sector including bwin, sporting bet, partypoker and Foxy Bingo. It holds gaming licenses in 14 countries which generate around 4bn of sports wagers a year.
In the 6 months ended 30 June 2015, GVC reported a profit before taxation of 17.1 million on revenue of 120.9 million (year ended 31 December 2014: profit before tax of 40.6 million on revenue of 224.8 million). Its net assets at 30 June 2015 amounted to 137.1 million. 
In the 6 months ended 30 June 2015, bwin.party reported a profit before taxation of 3.1 million on revenue of 296.5 million (year ended 31 December 2014: loss before tax of 100.5 million on revenue of 317.1 million). Its net assets at 30 June 2015 amounted to 554.5 million.
Further information on GVC and bwin.party is available on the GVC websitewww.gvc-plc.com.
Enquiries:
Adams plc
Mike Bretherton
Tel: +44 1534 719 761
Nomad
Cairn Financial Advisers LLP
Sandy Jamieson, James Caithie
Tel: +44 207 148 7900
Broker
Peterhouse Corporate Finance Limited
Lucy Williams, Duncan Vasey
Tel: +44 207 469 0930

This information is provided by RNS
The company news service from the London Stock Exchange
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