Adjournment of Finalto General MeetingSource: RNS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION; IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
15 July 2021
Adjournment of Finalto General Meeting and proposed publication of supplementary circular
Playtech announced on 9 July 2021 that, having consulted with a large proportion of its major shareholders, it intended to adjourn the General Meeting which had been convened for the purposes of approving the proposed sale of Finalto to the Consortium.
Consequently, at the General Meeting today, the proposal by the Chairman of the Board to adjourn the General Meeting to a date to be notified by the Company to its shareholders in due course was duly passed.
Playtech has previously proposed that today's General Meeting would be adjourned to 10.00 a.m. on 29 July 2021. However, the Company will publish a supplementary circular to the one sent to shareholders on 24 June 2021, which will update shareholders on the Finalto sale process, including the indicative non-binding conditional offer made by Gopher Investments as announced on 2 July 2021. The Company is currently in the process of finalising such supplementary circular, which is also required to be approved by the Financial Conduct Authority and be published at least seven days prior to the associated general meeting.
In light of that, the date and time for holding the adjourned meeting will be finalised and communicated to shareholders as soon as practicable and alongside such supplementary circular being published.
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
Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries with c.6,400 employees across 24 countries.
Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.
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.
Finalto is a specialist in B2C and B2B multi-channel trading software and services. The Finalto Business' B2C offering, operating the brand Markets.com, is an established online contracts for difference ("CFDs") broker where customers can trade shares, indices, currency and commodity CFDs rapidly and securely on its trading platforms.
The Finalto Business' B2B offering consists of:
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.
UBS AG London Branch is authorised and regulated by the Financial Market Supervisory Authority in Switzerland. It is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the United Kingdom. UBS AG London Branch is acting exclusively as financial adviser to Playtech plc and no one else in connection with the process. In connection with such matters, UBS AG London Branch will not regard any other person as its client, nor will it be responsible to any other person for providing the protections afforded to its clients or for providing advice in relation to the process, the contents of this announcement or any other matter referred to herein.
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.