Response to Gopher press release of 3 August 2021Source: 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 OR REGULATIONS OF THAT JURISDICTION.
THE COMPANY HAS PUBLISHED A CIRCULAR AND SUPPLEMENTARY CIRCULAR IN CONNECTION WITH THE TRANSACTION. ANY VOTING DECISIONS BY SHAREHOLDERS IN CONNECTION WITH THE TRANSACTION SHOULD BE MADE ON THE BASIS OF THE INFORMATION CONTAINED IN THE CIRCULAR AND SUPPLEMENTARY CIRCULAR.
[3 August 2021]
Response to Gopher press release of 3 August 2021
As previously announced and as set out in the Supplementary Circular published by Playtech plc ("Playtech" or the "Company") on 2 August 2021, the Board's stated strategy remains to simplify Playtech's business and to dispose of Finalto for the maximum available proceeds.
Following receipt of the indicative proposal from Gopher Investments ("Gopher") to acquire Finalto, Playtech has, with the consent of the Consortium, raised some questions with Gopher to assess its ultimate ownership and funding structure, source of funds and ability to obtain the required regulatory clearances as part of basic initial due diligence it requires in order to assess Gopher's proposal.
Playtech does not recognise Gopher's characterisation of the chain of events to which it refers in its press release of 3 August 2021. If Gopher is willing to provide the requested information, Playtech would welcome Gopher doing so.
As previously stated, the proposal received from Gopher is uncertain in terms of its deliverability, principally because it remains not binding in nature and subject to a number of conditions. Accordingly, the Board is currently not in a position to change its recommendation to Shareholders in respect of the Disposal and the Resolution as set out in the Original Circular.
Playtech also notes Gopher's statement in its press release of 3 August 2021 that "…Gopher understands that Playtech may have received interest in Finalto from other potential acquiring parties since the date of adjournment". Playtech confirms it is not aware of having received any such interest.
Playtech plc +44 (0) 1624 645 954
Chris McGinnis, Director of Investor Relations & Strategic Analysis
James Newman, Director of Corporate Affairs
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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.
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.