REG - Sportech PLC - Result of Meeting

SportechAnnouncement

19/07/2023 12:00

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RNS Number : 5399G  Sportech PLC  19 July 2023

FOR IMMEDIATE RELEASE

 

19 July 2023

 

SPORTECH PLC

('Sportech' or the 'Company')

 

Results of General Meeting

 

Sportech, an international betting and technology business, is pleased to
announce that, at the General Meeting of the Company held earlier today, all
resolutions put to the Company's shareholders ("Shareholders") and voted on by
way of poll were duly passed.

The results of the poll were as follows:

 Resolution                       For                                    Against                             Withheld      Total votes cast
 (*indicates special resolution)  No. of votes(1)  % of shares voted(2)  No. of votes  % of shares voted(2)  No. of votes                    % of total issued share capital
 Resolution 1*                    73,635,473       99.94 %               41,795        0.06 %                2,500         73,677,268        73.68 %
 Resolution 2                     67,675,357       99.94 %               41,795        0.06 %                5,962,616     67,717,152        67.72 %
 Resolution 3*                    67,037,885       99.00 %               679,267       1.00 %                5,962,616     67,717,152        67.72 %
 Resolution 4*                    67,672,440       99.98 %               14,712        0.02 %                5,992,616     67,687,152        67.69 %
 Resolution 5*                    73,630,803       99.98 %               16,465        0.02 %                32,500        73,647,268        73.65 %

 

Notes:

(1) Any proxy appointments which gave discretion to the Chairman have been
included in the "for" total.

(2) A vote withheld is not a vote in law and is not counted in the calculation
of the percentage of the votes validly cast "for" or "against" a resolution.

The total number of shares in issue in capital of the Company as at 19 July
2022 was 100,000,000, with no shares being held in treasury. Accordingly, the
total number of voting rights in the Company as at 19 July 2023 was
100,000,000.

Publication on website:

The full text of the resolutions proposed and passed at the General Meeting
can be found in the Company's Shareholder Circular and Notice of General
Meeting (the "Circular") which was published and posted to Shareholders on 28
June 2023 and is available on the Company's website at
https://www.sportechplc.com/investors/
(https://www.sportechplc.com/investors/) .

A copy of this announcement is also available on the Company's website at
www.sportechplc.com (http://www.sportechplc.com) .

Share Capital Restructure

At the General Meeting, Shareholders approved, amongst other matters, the
Share Capital Restructure as set out in more detail in the Circular.

The Share Capital Restructure consists of the 100,000,000 ordinary shares of
one pence each in the capital of the Company ("Existing Ordinary Shares")
being consolidated, on a 10,000 for one basis, into ordinary shares of £100
each in the capital of the Company and then immediately sub-divided into
10,000,000 ordinary shares of 10 pence each in the capital of the Company
("New Ordinary Shares"). The New Ordinary Shares will be equivalent in all
respects to the Existing Ordinary Shares, including their dividend, voting and
other rights.

Any New Ordinary Shares which represent fractional entitlements arising as a
result of the Share Consolidation will be repurchased by the Company.

Admission of the New Ordinary Shares to trading on AIM

An application has been made to the London Stock Exchange plc for the
admission to trading on AIM of the New Ordinary Shares, which is expected to
become effective and dealings commence at or around 8.00 a.m. on 20 July 2023
("Admission").

Total Voting Rights, ISIN and SEDOL

The New Ordinary Shares have a new ISIN and SEDOL code, and the number of
total voting rights in the Company's issued share capital will strictly
decrease as a result of the Share Capital Restructure. However, in practice,
save for any changes connected to fractional entitlements arising as a result
of the Share Consolidation, Shareholders' percentage holdings in the issued
share capital of the Company will remain unchanged.

Upon Admission, the Company's issued share capital will consist of 10,000,000
New Ordinary Shares each with one voting right. The Company does not hold any
ordinary shares in treasury. Immediately following Admission, this figure may
be used by shareholders in the Company as the denominator for the calculation
by which they may determine if they are required to notify their interest in,
or change to their interest in, the share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules. However, this figure will
change as a result of the repurchase of New Ordinary Shares representing
fractional entitlements arising as a result of the Share Consolidation. A
further announcement will be released following completion of such repurchase,
which is expected to take place on 24 July 2023.

The ISIN and SEDOL code of the New Ordinary Shares will be GB00BRV2F192 and
BRV2F19, respectively.

Unless otherwise defined, capitalised terms used in this announcement have the
same meanings as ascribed to them in the Circular sent to Shareholders dated
28 June 2023.

 

 

Contacts:

 

 Sportech PLC                                  enquiries@sportechplc.com

 Richard McGuire, Non-Executive Chairman

 Clive Whiley, Senior Independent Director

 Peel Hunt (Nominated Adviser & Broker)        Tel: +44 (0) 20 7418 8900

 George Sellar

 Andrew Clark

 Lalit Bose

 

Notes to Editors:

 

About Sportech

 

Sportech operates in the gaming market and has two main businesses. Firstly,
it runs Sports Bars and other betting venues in Connecticut, USA, where it has
an exclusive license to offer pari-mutuel wagering, it also has a distribution
agreement with the Connecticut Lottery Corporation to provide retail sports
betting. Secondly, Sportech provides online gaming through two separate lines
of business. Mywinners.com operates under an exclusive license to offer
pari-mutuel betting online in Connecticut, while 123bet.com offers pari-mutuel
betting online across the wider USA.

 

Important notices:

 

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United
Kingdom by the FCA, is acting as Corporate Broker to Sportech and no one else
in connection with the matters described in this Announcement and will not be
responsible to anyone other than Sportech for providing the protections
afforded to clients of Peel Hunt, or for providing advice in connection with
the matters referred to herein. Neither Peel Hunt nor any of its group
undertakings or affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client of Peel
Hunt in connection with this Announcement or any matter referred to herein.

 

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