REG - Sportech PLC - Statement re Capital Distribution to Shareholders

SportechAnnouncement

27/04/2022 07:00

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RNS Number : 4374J  Sportech PLC  27 April 2022

     27 April 2022

 

 

Sportech PLC

('Sportech' or the 'Company')

 

Statement re Capital Distribution to Shareholders

 

Sportech PLC declares a distribution of 7.0 pence per share in cash amounting
to, in aggregate, £7,000,000 (the 'Distribution').

 

The Company is able to conduct the Distribution following the successful sale
of the terrestrial lottery business, 'Dominican Republic Lottery contract',
announced in January 2022 for £9.25 million gross, whilst retaining capital
to finance organic growth opportunities.

 

The shares will be marked ex-dividend on Thursday May 5(th) 2022, and the
Distribution will be made to those shareholders on the register on Friday
6(th) May 2022 (the record date). Payment will be Tuesday 31(st) May 2022.

 

Richard McGuire, Non-Executive Chairman of Sportech, said: "Management's
successful sale of the terrestrial lottery business facilitated this £7
million shareholder distribution taking the total returned to investors in the
last 9 months to £42.5 million. In 2017, the Company eliminated its debt and
returned £75 million to shareholders in buybacks and distributions and we are
delighted to continue this theme. The balance sheet is strong and executive
management continue to drive an absolute performance strategy on behalf of
investors."

 

 

- Ends -

Contacts:

 

 Sportech PLC                                   enquiries@sportechplc.com

 Richard McGuire, Non-Executive Chairman

 Andrew Lindley, Chief Executive Officer

 Nicola Rowlands, Chief Financial Officer

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

 George Sellar

 Andrew Clark

 Lalit Bose

 

 

Information contained within this announcement is deemed to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

Notes to Editors:

 

About Sportech

Sportech is a technology supplier and operator in the gambling market with two
core businesses: A digital omni channel platform for gaming verticals
including its own in-house lottery module as its B2B offering. In B2C, the
Company operates Sports Bars and other venues in the State of Connecticut USA
where it deploys its exclusive licence to offer pari-mutuel wagering in the
State and a distribution agreement with the Connecticut Lottery Corporation to
offer sports betting in the State. It also has the exclusive licence to
operate pari-mutuel betting online in Connecticut, which it does under the
MyWinners.com brand, and a general licence for pari-mutuel betting online
across the wider USA under the 123Bet.com brand.

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