Playtech PLC Sale of holding in Plus500 Ltd (0619A)

TIDMPTEC

RNS Number : 0619A

Playtech PLC

07 September 2018

Playtech PLC

Sale of holding in Plus500 Ltd

Playtech plc ("Playtech") announces that it has sold its entire holding of approximately 11.4 million ordinary shares in Plus500 Ltd ("Plus500") at a price of 1,550 pence per ordinary share, realising gross proceeds of approximately GBP176 million (equivalent to approximately EUR196 million).

The proceeds from the sale will be used for general corporate purposes and debt reduction.

The sale will not impact Playtech's entitlement to the interim dividend announced by Plus500 on 13 August 2018, equivalent to approximately $16 million.

The stake represents approximately 9.99% of Plus500's issued share capital. The sale is expected to settle on a T+2 basis, on 11 September 2018. Following completion of the sale, Playtech will no longer hold any interest in Plus500's ordinary shares.

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For further information please contact:

 
                                          [phone] 
 Playtech plc 
 
  Mor Weizer, CEO 
  Andrew Smith, CFO 
  James Newman, Head of Investor 
  Relations & Corporate Communications 
                                          [phone] 
 Headland (PR adviser to Playtech) 
 
  Lucy Legh, Stephen Malthouse 
 

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

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's 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. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

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September 07, 2018 02:00 ET (06:00 GMT)