REG - Aristocrat Leisure Playtech PLC - Statement re Possible Offer for Playtech plc

PlaytechAnnouncement

08/11/2021 07:05

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RNS Number : 5833R  Aristocrat Leisure Limited  08 November 2021

Aristocrat Leisure Limited

8 November 2021

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY (IN WHOLE
OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

Aristocrat Leisure Limited ("Aristocrat")

 

Statement regarding Possible Offer for Playtech plc ("Playtech")

by Gopher Investments ("Gopher")

 

Aristocrat Leisure Limited ("Aristocrat") notes the announcement by Playtech
plc ("Playtech") that it has received a preliminary approach from Gopher
Investments ("Gopher") seeking access to certain due diligence information,
which Playtech has provided in accordance with the UK Takeover Code. There is
no certainty that Gopher's approach will result in an offer for Playtech, nor
as to the terms on which any offer may be made.

 

On 17 October 2021 the Boards of Aristocrat and Playtech announced a
recommended acquisition of Playtech by Aristocrat for 680 pence in cash for
each Playtech share held.

 

The recommended acquisition follows extensive engagement between Aristocrat
and Playtech since April 2021 and represents a firm offer for Playtech
shareholders, subject to customary conditions.

 

Aristocrat's long-term engagement with regulators across key gaming
jurisdictions, together with strong financial fundamentals, deep customer
relationships and established presence in global gaming markets, positions
Aristocrat to complete the transaction as planned in the second quarter of
calendar year 2022. Aristocrat believes that this will provide certain value
to Playtech shareholders, while the combined group will also provide greater
opportunities to Playtech employees.

 

The recommended acquisition values the entire issued and to be issued share
capital of Playtech at approximately £2.1 billion (AUD 3.9 billion) on a
fully diluted basis and £2.7 billion (AUD 5.0 billion) on an enterprise value
basis.

 

Since 17 October 2021, Aristocrat and Playtech have been working to implement
the recommended acquisition.

 

Playtech intends to publish the Scheme Document shortly, with notices
convening the relevant shareholder meetings to approve the recommended
acquisition. Aristocrat will continue to work with Playtech to progress the
recommended acquisition and urges Playtech shareholders to vote in favour of
the Aristocrat recommended acquisition at the shareholder meetings when the
Scheme Document has been published.

 

In accordance with the UK Takeover Code, the UK Takeover Panel will announce
the deadline by which Gopher must clarify its intentions in relation to
Playtech. Aristocrat will provide this and any further updates as and when
necessary.

 

The person responsible for arranging for the release of this announcement on
behalf of Aristocrat is Kristy Jo, Company Secretary.

 

Enquiries:

 Aristocrat
 Rohan Gallagher            General Manager, Investor Relations  Tel: (612) 8216 3902

                                                                 Mobile: (61) 421 051 416

                                                                 rohan.gallagher@aristocrat.com
 Natalie Toohey             Chief Corporate Affairs Officer      Mobile: (61) 409 239 459

                                                                 natalie.toohey@aristocrat.com
 Goldman Sachs International (Financial Adviser to Aristocrat)
 Nick Harper                                                     Tel: (44) 20 7774 1000
 Finsbury Glover Hering (PR Adviser to Aristocrat)
 Faeth Birch                                                     Tel: (44) 20 7251 3801
 James Leviton

 

Sources & Bases:

 

The enterprise value of Playtech implied by the value of the acquisition is
£2,696 million, which is based on:

·    the total acquisition value of £2,124 million; and

·    Playtech net debt, after deducting adjusted gross cash and excluding
cash in assets held for sale, of €678 million as reported in Playtech's
results for the six-month period ended 30 June 2021, prepared in accordance
with IFRS.

 

About Aristocrat Leisure Limited

 

Aristocrat Leisure Limited (ASX: ALL) is a leading global gaming content and
technology company and top-tier mobile games publisher, with more than 6,500
employees in over 20 locations around the world.  Aristocrat offers a diverse
range of products and services including electronic gaming machines, casino
management systems and free-to-play mobile games. The company's regulated
gaming products are approved for use in more than 300 licensed jurisdictions
and are available in more than 80 countries. For further information visit
https://power-of-play.com (https://power-of-play.com/) /
(https://power-of-play.com/) .

 

Important Notices

 

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the United Kingdom is acting exclusively for
Aristocrat and no one else in connection with the matters referred to in this
announcement and will not be responsible to anyone other than Aristocrat for
providing the protections afforded to clients of Goldman Sachs International,
or for providing advice in connection with the matters referred to in this
announcement.

 

Publication on Website

 

A copy of this announcement will also be made available on Aristocrat's offer
website at https://power-of-play.com/ (https://power-of-play.com/) by no later
than 12 noon (London time) on the business day following this announcement.
The content of this website is not incorporated into and does not form part of
this announcement.

 

 

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