REG - Playtech PLC - Extension to deadline under rule 2.6(C)

PlaytechAnnouncement

17/06/2022 07:00

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RNS Number : 2134P  Playtech PLC  17 June 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

17 June 2022

 

Playtech plc

 

("Playtech" or "the Company")

 

EXTENSION TO DEADLINE UNDER RULE 2.6(C) OF THE CODE

 

On 20 May 2022, the Independent Committee of the Board of Playtech (the
"Independent Committee") announced that the restrictions under Rule 2.8 of the
Code in respect of an investor group to be formed and advised by TTB Partners
Limited ("TTB") had expired. In accordance with Rule 2.6 of the Code, TTB was
required by 5.00pm (London time) on 17 June 2022 to announce (i) its firm
intention to make an offer for the Company in accordance with Rule 2.7, or
(ii) that it does not intend to make an offer for the Company, in which case
the announcement will be treated as a statement to which Rule 2.8 applies.

 

Discussions between the Company and TTB are ongoing and progress continues to
be made. At present, the Independent Committee believes allowing additional
time for discussions to further develop is in the best interests of the
Company's shareholders and other stakeholders. Accordingly, the Independent
Committee requested that the Panel on Takeovers and Mergers (the "Panel")
extend the deadline by which TTB must clarify its intentions. The Panel has
granted this extension.

 

In accordance with Rule 2.6 of the Code, TTB is now required, by 5.00pm on 15
July 2022, either to announce (i) its firm intention to make an offer for the
Company in accordance with Rule 2.7 of the Code or (ii) to announce that it
does not intend to make an offer for the Company, in which case the
announcement will be treated as a statement to which Rule 2.8 of the Code
applies. This deadline may only be further extended with the consent of the
Panel.

 

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.

 

A further announcement will be made as and when appropriate.

 

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 20 June 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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