Playtech PLC Consob approval of offer for Snaitech S.p.A. (2116S)
June 22 2018 - 2:00AM
UK Regulatory
TIDMPTEC
RNS Number : 2116S
Playtech PLC
22 June 2018
Playtech PLC
("Playtech" or the "Group")
Consob approval of the offering document relating to Playtech's
acquisition of Snaitech S.p.A. ("Snaitech")
22 June 2018
Further to the announcement dated 5 June 2018, Playtech today
announces that Consob, the supervisory authority for the Italian
financial market, has approved the offering document (the "Offering
Document") relating to the mandatory takeover offer (the "Mandatory
Takeover Offer") for the remaining shares of Snaitech not owned by
the Group.
As at the date of this announcement, Playtech holds almost 81.0
per cent. of the issued share capital of Snaitech, as a result of
the acquisition of approximately 70.6 per cent plus market
purchases of approximately 10.3 per cent.
The acceptance period for the Mandatory Takeover Offer (the
"Acceptance Period") will start at 8:30 am (CEST) on 26 June 2018
and will end at 5:30 pm (CEST) on 23 July 2018. The consideration,
equal to Euro 2.19 per share tendered in the Offer (the
"Consideration") will be paid to the tendering shareholders on 30
July 2018 (the "Payment Date").
If certain conditions are met, the Acceptance Period will be
reopened for a further five trading days starting from 31 July
2018, being the trading day following the Payment Date and ending
on 6 August 2018 (the "Reopening of Terms"). In the event of the
Reopening of Terms, the payment of the Consideration for the shares
that have been tendered during the Reopening of Terms period will
take place on 13 August 2018.
The Offering Document containing the specific terms and
conditions of the Offer, as well as the procedures to adhere to it,
will be published on Snaitech's website (http://Snaitech.it) and on
the website of the Global Information Agent
(www.sodali-transactions.com).
Mor Weizer, Chief Executive Officer of Playtech, and Andrew
Smith, Chief Financial Officer of Playtech, have been appointed to
the Board of Snaitech.
For further information please contact:
Playtech plc
James Newman, Head of Investor
Relations +44 (0) 16 2464 5954
Headland (PR adviser to Playtech)
Lucy Legh / Stephen Malthouse +44 (0) 20 3805 4822
- Ends -
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END
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