Sportech PLC Directorate Changes (1147H)

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RNS Number : 1147H

Sportech PLC

13 November 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

This announcement contains inside information

 
 For immediate release   13 November 2018 
 

SPORTECH PLC

('Sportech' or the 'Group')

Directorate Changes

Sportech PLC (LSE: SPO), the international betting technology business, announces that Andrew Gaughan, the Group's CEO, has informed the Board of his intention to step down as a Director. He will leave the Group on 28 February 2019, after an orderly handover period, to pursue other interests.

Richard McGuire, Non-Executive Chairman, will become Interim Executive Chairman with immediate effect. Richard has been with the Group since 2016 and is well known amongst Sportech staff and its stakeholders. Richard will relocate to the Group's US base in Connecticut, a key state in the newly liberalised US sports betting market.

The Group will commence a process for the identification and appointment of a new CEO. It is also progressing the appointment of an independent Non-Executive Director. Further updates will be made in due course.

Richard McGuire, said: "The Board thanks Andrew for his significant contribution to the Group, and for leading Sportech as CEO over the past year. I will be working closely with Andrew in the coming months, and as of the end of February we wish him well for the future."

Andrew Gaughan commented: "I have enjoyed my time at Sportech over the past eight years, and I leave the Group in a position of strength with an established core global betting technology business and well placed to take advantage of the opportunities that the US sports betting market presents. I wish Sportech every success in the future."

The Group confirms that trading in the current year remains in line with the trading update announced on 7 November 2018.

Publication on website

A copy of this announcement is also available on the Group's website at www.sportechplc.com.

- Ends -

Contacts:

 
 Sportech PLC                           Tel: [phone] 
 Richard McGuire, Executive Chairman 
 Giles Vardey, Non-Executive Director 
 
 Peel Hunt                              Tel: [phone] 
 (Corporate Broker to Sportech) 
  Dan Webster / George Sellar 
 
 Buchanan                               Tel: [phone] 
 (Financial PR adviser to Sportech)      [e-mail] 
  Henry Harrison-Topham / Mark Court 
  / Jamie Hooper 
 

Notes to Editors

About Sportech

Sportech PLC, the international betting technology business, provides and operates betting technology solutions for some of the world's best-known gaming companies, sports teams, and horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut under exclusive licences.

The Group focuses on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients in 37 countries. Its global systems process nearly US$12 billion in betting handle annually. In the US, it operates under 35 licences across 37 states. The Group has invested over US$60 million in the last five years in the successful expansion of its US gaming Venues and in developing its technology services, resulting in its proprietary Quantum(TM) System being the most widely deployed pari-mutuel betting system globally.

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 [e-mail] or visit www.rns.com.

END

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November 13, 2018 02:01 ET (07:01 GMT)