PTEC Playtech Plc

TIDMPTEC

RNS Number : 4135S

TT Bond Partners

14 July 2022

TT Bond Partners

14 July 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, 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 SUCH JURISDICTION

FOR IMMEDIATE RELEASE

No intention to bid statement

TTB Partners Limited ("TTB") today confirms that due to challenging underlying market conditions it is not intending to make an offer for Playtech plc ("Playtech"). TTB remains supportive of the Board, the executive management team, their strategy for Playtech and the prospects for the business. TTB also intends to support the Board's efforts to maximise shareholder value.

This is a statement to which Rule 2.8 of the Takeover Code (the "Code") applies.

Under Note 2 on Rule 2.8 of the Code, TTB reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

   a.    with the agreement of the board of Playtech; 
   b.    if a third party announces a firm intention to make an offer for Playtech; 

c. if Playtech announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and

   d.    if there has been a material change of circumstances (as determined by the Takeover Panel). 

Ends

About TT Bond Partners

TT Bond Partners, through its Hong Kong regulated entity, TTB Partners Limited, is an investment and advisory firm based in Hong Kong, whose founders and professionals have over 30 years' experience in the financial services industry investing and advising on over $250 billion of transactions in the US, Europe, and Asia.

Contacts

Camarco (Media Contact)

Jennifer Renwick

jennifer.renwick@camarco.co.uk

020 3757 4994

Rothschild & Co (Financial Adviser)

Edward Duckett

Ashley Gillard

No offer or solicitation:

This announcement is for information purposes only and is not intended to and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation to purchase, acquire, subscribe for, sell, dispose of or issue any securities in Playtech in any jurisdiction.

Overseas jurisdictions:

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions should inform themselves of, and observe, any applicable restrictions or requirements. Any failure to comply with these restrictions may constitute a violation of securities laws of any such jurisdictions. To the fullest extent permitted by law, TTB disclaims all and any responsibility or liability for the violation of such restrictions by such person.

No investment recommendation:

This announcement is not intended to be and does not constitute or contain any investment recommendation as defined by Regulation (EU) No 596/2014 (as it forms part of the domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). No information in this announcement should be construed as recommending or suggesting an investment strategy. Nothing in this announcement or in any related materials is a statement of or indicates or implies any specific or probable value outcome in any particular circumstance.

Disclaimer:

N.M. Rothschild and Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for TTB and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than TTB for providing the protections afforded to clients of Rothschild & Co nor for providing advice in connection with any matter referred to herein or the other matters referred to herein.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

OUPFXLLFLDLLBBF

(END) Dow Jones Newswires

July 14, 2022 02:00 ET (06:00 GMT)

Playtech (LSE:PTEC)
Historical Stock Chart
From Mar 2024 to Apr 2024

Playtech (LSE:PTEC)
Historical Stock Chart
From Apr 2023 to Apr 2024