TIDMSPO
RNS Number : 7279C
Sportech PLC
19 April 2017
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
19 April 2017
Sportech PLC
("Sportech" or the "Company")
Result of General Meeting
Proposed Disposal of the Football Pools Business
On 29 March 2017, Sportech published and posted its shareholder
circular containing the notice of General Meeting (the "Circular")
in connection with the proposed Disposal of the Football Pools
Business to OpCapita LLP for a total cash consideration of GBP83.0
million on a debt free, cash free basis.
The Board of Sportech is pleased to announce that the resolution
to approve the Disposal as detailed in the Circular (the
"Resolution") was duly passed on a show of hands at the General
Meeting held earlier today.
Proxy votes (excluding votes withheld) were cast for a total of
140,564,891 Ordinary Shares of the Company, representing 75.73 per
cent. of the total number of votes (185,614,244 Ordinary Shares)
capable of being cast at the General Meeting. Details of the proxy
votes received in relation to the Resolution are as follows:
Resolution Votes % Votes % Discretion % Votes
in favour against withheld(*)
------------------ ------------ ------ ----------- ----- ----------- ----- -------------
To approve
the proposed
disposal
of the Football
Pools Business 129,300,723 91.99 11,151,253 7.93 112,915 0.08 240
------------------ ------------ ------ ----------- ----- ----------- ----- -------------
(*) A vote withheld is not a vote in law and is not counted in
the votes for and against a Resolution.
A copy of the resolution passed at the meeting will be submitted
to the National Storage Mechanism and will shortly be available for
inspection at www.morningstar.co.uk/uk/NSM and on the Company's
website at www.sportechplc.com.
Following the approval of the Disposal at the General Meeting
today, completion remains conditional upon the Purchaser obtaining
the necessary licences from the Gambling Commission.
Capitalised terms not otherwise defined in this announcement
shall have the meaning given to them in the Circular.
For further information, please contact:
Sportech PLC Tel: +44 (0)20
7268 2400
Ian Penrose, Chief Executive
Mickey Kalifa, Chief Financial
Officer
Investec Bank PLC Tel: +44 (0)20
7597 5970
(Financial Adviser and Joint Broker
to Sportech)
Chris Treneman, Patrick Robb
Henry Reast, William Godfrey
Peel Hunt LLP Tel: +44 (0)20
7418 8900
(Joint Broker to Sportech)
Dan Webster, Adrian Trimmings
Brunswick Group LLP Tel: +44 (0)20
(Financial PR adviser to Sportech) 7404 5959
sportech@brunswickgroup.com
Mike Smith, Stuart Donnelly
Disclaimer
Investec Bank plc, which is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct
Authority and the Prudential Regulation Authority in the United
Kingdom, is acting exclusively for Sportech and for no one else in
connection with the matters described in announcement and is not,
and will not be, responsible to anyone other than Sportech for
providing the protections afforded to its clients nor for providing
advice in connection with the matters set out in this
announcement.
Forward-looking statements
This announcement contains statements which are, or may be
deemed to be, "forward--looking statements" which are prospective
in nature. All statements other than statements of historical fact
are forward-looking statements. They are based on current
expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results
to differ materially from the future results expressed or implied
by the forward-looking statements. Often, but not always,
forward--looking statements can be identified by the use of a date
in the future or forward--looking words such as "plans", "expects",
"is expected", "is subject to", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", "believes", "targets",
"aims", "projects" or words or terms of similar substance or the
negative of those terms, as well as variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "should", "would", "might" or "will" be taken,
occur or be achieved. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations or events that are beyond Sportech's control.
Forward-looking statements include statements regarding the
intentions, beliefs or current expectations of Sportech concerning,
without limitation: (i) future capital expenditures, expenses,
revenues, earnings, synergies, economic performance, indebtedness,
financial condition, dividend policy, losses and future prospects;
(ii) business and management strategies and the expansion and
growth of the Sportech Group's operations; and (iii) the effects of
global economic conditions on Sportech's business.
Such forward-looking statements involve known and unknown risks
and uncertainties that could significantly affect expected results
and are based on certain key assumptions. Many factors may cause
the actual results, performance or achievements of Sportech to be
materially different from any future results, performance or
achievements expressed or implied by the forward--looking
statements. Important factors that could cause the actual results,
performance or achievements of Sportech to differ materially from
the expectations of Sportech include, among other things, general
business and economic conditions globally, industry trends,
competition, changes in government and other regulation (including
licensing) and policy, including in relation to the environment,
health and safety and taxation, labour relations and work
stoppages, interest rates and currency fluctuations, changes in its
business strategy, the outcome of any litigation, the impact of any
acquisitions or similar transactions, IT system and technology
failures, political and economic uncertainty and other factors.
Such forward-looking statements should therefore be construed in
light of such factors.
Neither Sportech nor any of its directors, officers or advisers
provides any representation, assurance or guarantee that the
occurrence of the events expressed or implied in any
forward-looking statements in this announcement will actually
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
Forward-looking statements contained in this announcement apply
only as at the date of this announcement. Other than in accordance
with its legal or regulatory obligations (including under the
Listing Rules and the Disclosure Guidance and Transparency Rules),
Sportech is not under any obligation and Sportech expressly
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
The release, publication or distribution of this announcement in
jurisdictions other than the United Kingdom may be restricted by
law and therefore any persons who are subject to the laws of any
jurisdiction other than the United Kingdom should inform themselves
about, and observe, any applicable requirements. This announcement
has been prepared for the purposes of complying with the Listing
Rules and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been
prepared in accordance with laws and regulations of any
jurisdiction outside of England.
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction. Shareholders are advised to read
carefully the formal documentation in relation to the Disposal once
it has been despatched. Any response to the proposals should be
made only on the basis of the information in the formal
documentation to follow.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROMDMGMDGLDGNZM
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