Update re Disposal

 

TIDMLNG 
 
RNS Number : 2025U 
Leisure & Gaming plc 
11 October 2010 
 

                              Leisure & Gaming plc 
                                ("the Company") 
 
                               Update re Disposal 
 
 
On 28 September 2010, the Company announced the adjournment of the General 
Meeting convened on that date until 10 a.m. on 12 October 2010. The adjournment 
was to give the Company time to conclude a share purchase agreement with Grupo 
Pefaco SL on the terms set out in the Company's circular to shareholders dated 
10 September 2010.  Since then, the Company has not concluded definitive terms 
with Pefaco and the Resolutions to be put to the reconvened General Meeting 
tomorrow are redundant. The terms of exclusivity with Pefaco have also expired 
without renewal.  The Directors are still in talks with Pefaco but are 
responding to contact with other parties who have expressed an interest to 
acquire the Betshop business since the expiry of the exclusivity period. While 
that remains a real possibility, following demand for repayment by the Company's 
bankers on 6 October 2010, the Company is working to see if a solvent solution 
can be achieved avoiding administration. Further resolutions will need to be put 
to shareholders if an alternative process emerges. 
 
 
For further information, please contact: 
 
Richard Creed, 
Leisure & Gaming plc 
Tel [phone] 
 
Geoff Nash, Charlotte Stranner (Corporate Finance) 
finnCap 
Tel [phone] 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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