RNS Number : 3004C
Sportech PLC
18 June 2021

For Immediate Release

18 June 2021





('Sportech', the 'Group' or the 'Company')


Corporate Transactions Update


Sportech, an international betting technology business, is pleased to provide an update on the three previously announced corporate transactions.


Corporate Transactions Update


The Group is pleased to confirm the completion of three transactions: the sale of the global Tote business to BetMakers Technology; the sale of Bump 50:50 to Canadian Banknote and the sale of a freehold property in New Haven, Connecticut.  These transactions were all completed in line with the terms provided to shareholders previously.  The projected aggregate net cash from these three corporate transactions totals £36.1 million.


It is the Board's intention to return the majority of proceeds to the Company's Shareholders when opportune to do so.  The timing and extent of such a return of proceeds will take into account the Group's investment opportunities and ongoing capital requirements.  The Board will consult with major Shareholders as to the appropriate combination of the use of Group net cash.


Richard McGuire, Chief Executive Officer of Sportech, said:


"I am pleased to announce these transactions are now complete and my gratitude goes to those dedicated professionals who are transferring to new owners of the operating businesses and I know our clients will appreciate the expertise, expanded product suite and commitment the team at BetMakers and Canadian Bank Note respectively will add.


"Sportech operations will be significantly smaller going forward and, as announced on Friday 4 June,  we have recommended a listing move to the AIM market, which is a more suitable market for the Company's current size and strategy and will offer greater flexibility with regard to corporate transactions."


Publication on website


A copy of this announcement, shareholder circulars and the Annual Report will be available on the Group's website at www.sportechplc.com


- Ends -


For further information, please contact:

Sportech PLC

Giles Vardey, Chairman

Richard McGuire, Chief Executive Officer

Tom Hearne, Chief Financial Officer


Tel: +44 (0) 117 902 9000


Peel Hunt LLP - Corporate Broker

George Sellar / Andrew Clark / Will Bell


Tel: +44 (0) 20 7418 8900




Henry Harrison-Topham / Jamie Hooper / George Beale



Tel: +44 (0) 20 7466 5000



Notes to Editors:


About Sportech

Sportech PLC, an international betting technology business, delivers solutions and services in highly regulated markets worldwide for some of the world's best-known gaming companies, sports teams, racetracks, casinos and lottery clients as well as owning and operating its own gaming venues in Connecticut under exclusive licenses.

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