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.
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2021 |
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Final Court Hearing to confirm the Capital Reduction |
28 September |
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Expected date of registration of the Court Order and the Capital Reduction becoming effective |
29 September |
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Latest time and date for receipt of Tender Forms and submission of TTE Instructions from Shareholders |
1.00 p.m. on 13 October |
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Record date and time for the Tender Offer |
6.00 p.m. on 13 October |
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Results of Tender Offer elections announced |
14 October |
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CREST Settlement Date: payments through CREST and CREST accounts settled |
21 October |
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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
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Contacts |
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Sportech PLC Giles Vardey, Chairman Andrew Lindley, Chief Executive Officer Nicola Rowlands, Chief Financial Officer
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enquiries@sportechplc.com |
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Peel Hunt (Nominated Adviser & Broker) George Sellar Andrew Clark Will Bell
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Tel: +44 (0) 20 7418 8900 |
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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.