Company Announcements

Update on Finalto sale process and General Meeting

Source: RNS
RNS Number : 7518E
Playtech PLC
09 July 2021





9 July 2021



Update on Finalto sale process and General Meeting



Playtech plc ("Playtech" or the "Company") announced on 26 May 2021 that it had successfully entered into a binding agreement (the "SPA") for the sale of its financial trading division ("Finalto") to a consortium buyer (the "Consortium") for cash proceeds of up to US$210 million (the "Consortium Offer"). Completion of the Consortium Offer is conditional on the approval of the disposal by shareholders at the general meeting (the "General Meeting") and the approval of certain regulatory authorities in respect of the change of control. The associated circular to shareholders with respect to the Consortium Offer was published on 24 June 2021.


Since the initial announcement by Gopher Investments ("Gopher") on 2 July 2021 of its indicative non-binding conditional offer to acquire Finalto for US$250 million, Playtech has consulted with a large proportion of its major shareholders. As a result of these discussions the Company intends to adjourn the General Meeting which has been convened for 15 July 2021 to allow both the Board and shareholders to further consider recent developments. It is currently intended that there will be a two week adjournment such that the Company will hold an adjourned general meeting to consider the Consortium Offer at 10 a.m. on 29 July 2021. Further announcements will be made in due course.


As announced previously, both Playtech and the Consortium are bound by the restrictions agreed as part of the SPA, which includes not engaging in negotiations with any third party regarding a potential transaction involving the sale of Finalto, as is customary for transactions of this nature. For the avoidance of doubt, the adjournment of the General Meeting does not change these restrictions.

The indicative proposal from Gopher is non-binding and is subject to a number of conditions, therefore there can be no certainty that the transaction proposed by Gopher would proceed to signing or completion. As stated above, the Consortium Offer has been signed and is binding, but remains subject to shareholder and regulatory approval, and as such there can be no certainty that the Consortium Offer will proceed to completion.



Playtech plc                                                                                                                                         +44 (0) 1624 645 954

Chris McGinnis, Director of Investor Relations & Strategic Analysis

James Newman, Director of Corporate Affairs


UBS Investment Bank (Financial Adviser and Joint Sponsor to Playtech)                            +44 (0) 20 7567 8000

Rahul Luthra / Sandip Dhillon / Ben Crystal


Goodbody Stockbrokers (Corporate Broker and Joint Sponsor to Playtech)                        +353 1 667 0400

Piers Coombs / Charlotte Craigie / Stephen Kane


Headland (PR adviser to Playtech)                                                                                                  +44 (0) 20 3805 4822

Lucy Legh / Stephen Malthouse / Jack Gault


About Playtech

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. Playtech directly owns and operates Snaitech, the leading sports betting and gaming company in online and retail in Italy.

About Finalto

a)    clearing and execution services for other retail brokers and professional clients, through Finalto Financial Services Limited (formerly CFH Clearing Limited), where the Finalto Business acts as a matched-principal liquidity provider and straight through processes the trades to prime brokers and clearing houses;

b)    clearing and execution for other retail brokers, where the Finalto Business acts as the execution venue and market-maker; and

c)     technology and risk management services, where the Finalto Business provides platform, client relationship management, reporting and risk-management technology to the retail broker market.


Additional information


Goodbody is authorised and regulated by the Central Bank of Ireland, and is also subject to regulation by the Financial Conduct Authority. Goodbody is acting exclusively for Playtech and for no one else in connection with the process and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the process or any other matter referred to in this announcement and will not be responsible to anyone other than Playtech for providing the protections afforded to its clients or for giving advice in relation to the process or any other matter referred to in this announcement.

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