Capital Reduction and Tender Offer

Sportech

24/09/2021 15:12

RNS Number : 9532M

Sportech PLC

24 September 2021

 

For immediate release

24 September 2021

Sportech PLC

("Sportech" or the "Company")

CAPITAL REDUCTION AND TENDER OFFER

EXPECTED TIMETABLE

Sportech (AIM: SPO), an international betting technology business, is pleased to announce that the final hearing in the Court process to reduce its share capital (the "Capital Reduction") to create a distributable reserve necessary to implement its tender offer (the "Tender Offer") is expected to be held on 28 September 2021.

Further details of the Capital Reduction and the Tender Offer are set out in the circular sent to the Company's shareholders on 6 August 2021 (the "Circular").  A copy of the Circular is available on the Company's website at www.sportechplc.com.

An updated expected timetable in connection with the Capital Reduction and Tender Offer is set out below. 

The Company will announce the outcome of the Final Hearing on 28 September 2021.

2021
Final Court Hearing to confirm the Capital Reduction
28 September
Expected date of registration of the Court Order and the Capital Reduction becoming effective
29 September
Latest time and date for receipt of Tender Forms and submission of TTE Instructions from Shareholders
1.00 p.m. on 13 October
Record date and time for the Tender Offer
6.00 p.m. on 13 October
Results of Tender Offer elections announced
14 October
CREST Settlement Date: payments through CREST and CREST accounts settled
21 October
Balancing share certificates and cheques despatched to certificated Shareholders
21 October

Note

The times and dates set out in this timetable are based on the Company's current expectations and are subject to change. The times and dates are indicative only and will depend, among other things, on the date upon which the Court confirms the Capital Reduction. Any changes to the timetable will be notified to Shareholders by an announcement made by the Company through a Regulatory Information Service.  References to times in this document are to London time.

ENDS

Contacts
Sportech PLC
Giles Vardey, Chairman
Andrew Lindley, Chief Executive Officer
Nicola Rowlands, Chief Financial Officer
enquiries@sportechplc.com
Peel Hunt (Nominated Adviser & Broker)
George Sellar
Andrew Clark
Will Bell
Tel: +44 (0) 20 7418 8900
Buchanan (Financial Communications)
Henry Harrison-Topham
Jamie Hooper
George Beale
Tel: +44 (0) 20 7466 5000
sportech@buchanan.uk.com

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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