REG - Sportech PLC - Capital Reduction and Tender Offer

SportechAnnouncement

24/09/2021 15:15

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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