Share Name Share Symbol Market Type Share ISIN Share Description
Sportech LSE:SPO London Ordinary Share GB00B28ZPV64 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.80p -1.91% 41.00p 871,904 16:35:00
Bid Price Offer Price High Price Low Price Open Price
41.00p 43.00p 43.00p 43.00p 43.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 98.6 30.7 6.4 6.4 76.10

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Date Time Title Posts
18/3/201804:16Sportech > - Online Gaming ->>2,593
12/4/200608:32GROWTH FOR 2006 / 20077
12/1/200620:18Sporttech - the next GMC-like rocket?1,047
11/7/200517:05KEEP AN EYE ON SPORTECH?????????63
11/6/200510:29SPORTECH...A sitting duck for a sporting bid???7

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Sportech (SPO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-03-19 16:35:2442.50300,000127,500.00O
2018-03-19 16:35:0041.001,505617.05UT
2018-03-19 16:29:2743.00267114.81AT
2018-03-19 15:16:0241.6050,00020,800.00O
2018-03-19 14:10:5041.605,0002,080.00O
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Sportech (SPO) Top Chat Posts

Sportech Daily Update: Sportech is listed in the Travel & Leisure sector of the London Stock Exchange with ticker SPO. The last closing price for Sportech was 41.80p.
Sportech has a 4 week average price of 30.90p and a 12 week average price of 30.90p.
The 1 year high share price is 108.75p while the 1 year low share price is currently 30.90p.
There are currently 185,614,244 shares in issue and the average daily traded volume is 788,816 shares. The market capitalisation of Sportech is £76,101,840.04.
nod: I'm disappointed with the news of impairments and write downs but more disappointed in the unfinished way the accounting adjustments have been presented to the market. I'm disappointed there was no bid acceptable to the company. I'm disappointed the share price fell to 30p at one point. The company warning that there may be more impairments to come is extremely disappointing and seems designed to get the share price down by deliberately creating uncertainty and anxiety. It worked. The directors have had ample time over the past six months of due diligence to complete their valuations and present the full picture. They said they had at least four potential bidders doing due diligence over these past five months. That's a lot of eyes on our books. So why could they not finalise their valuations before releasing bad news?
nod: Sportech has been under new leadership since 18 September. Existing Board members took over as Acting CEO and CFO, these being Richard McGuire and Richard Cooper. Richard Cooper was Chair of the Audit Committee i.e. checked the accuracy of the books. They remained Acting while undertaking a strategic review and then a sale by tender process. Obviously the Current leadership have had plenty of time, years in fact, before today to consider the valuation of assets. The only reason to do this today is to assist the incoming executives to begin management from a low base, including a low share price. Don't be surprised by the award of options in a month or two at say 45p or 50p. There is nothing unusual in what we have seen today.
noujay: So basically having done due diligence the prospective buyers have determined that it's not fit for sale in its current guise/valuation.They will ring the changes, see how the next couple of quarters trading goes and with a bit of luck get some fresh momentum off the back of a successful PASPA repeal.Even with all that I find it hard to imagine the share price will rise to much more than it was at this time yesterday.
dtaliadoros: What percentage chance do all of you out there have of a sale of the business at a premium to current share price.
runthejoules: Sounds like the company is very much in play now. Now whhich companies've got some spare change down the back of the sofa? Sportech PLC - Board Changes & Strategic Review: 18 September 2017 Sportech PLC ("the Company") announces that it is undertaking a comprehensive review of the business and the capital structure, with all options to optimise value for the benefit of shareholders under consideration. Ian Penrose, CEO and Mickey Kalifa, CFO have informed the Board of their intention to resign from their current roles. Ian will remain with Sportech until 31 December 2017. Mickey's resignation from the Board is effective as of today but he will remain with the company until 31 October 2017. Ian and Mickey will assist in an orderly transition in the coming months. Richard Cooper, currently Chair of the Audit Committee, will assume oversight of the finance function. This follows a successful turnaround in the business under their leadership, in which the Company secured £97m gross receipt from its VAT litigation case, modernised and sold the Football Pools, repaid £65m of debt and returned £21m to shareholders with an anticipated substantial distribution to follow from the Group's £64m net current assets as at 30 June 2017. The Company will provide an update on the strategic review and the future management structure with the Group's trading update on November 9, 2017. Richard McGuire, non-executive Chairman of Sportech, commented: "We would like to thank Ian for the tremendous job he has performed at Sportech. He presided over the transformation of the Company from a UK focused business into a respected, fully licensed and regulated global gaming technology supplier and gambling operator in the US with a strong balance sheet". "Mickey led a remarkable transformation in the company's financial strength as CFO and previously when Corporate Development Director, in prominently driving Sportech's global expansion. On behalf of the Board, I would like to thank him for his work over many years and wish him continued success in the future". "As Chairman, I will be leading the strategic review process to ensure that the best path forward is delivered for shareholders". Ian Penrose commented: "I have enjoyed my time at Sportech in which the company has enjoyed a transformational period from a rapidly, and many thought terminally, declining UK business with debts exceeding £112m and 5x leverage, into the business it is today. We stated two years ago, when the share price was 65p and we had £65m of debt that we would deliver growth in shareholder value. I am therefore delighted that we have delivered a £150m net turnaround in the financial position of the Group. This includes the return of £21m to shareholders, the elimination of the debt and the current substantial cash, resulting in a share price that has increased by around 50% over these two years. In addition, Sportech has a great North American based business with both organic and strong regulatory growth opportunities." Mickey Kalifa, said: "I have been with Sportech for eight years and have thoroughly enjoyed my time at the company and driving the Group's successful financial turnaround. However, I believe it is time to move to the next stage of my career. I am very confident that Sportech will continue to deliver value for shareholders and customers alike."
funchalman: mention in this weeks shares magazine for SPO. SPO may soon pay shareholders cash equal to nearly one third its current market value(29%),according to investment bank investec.It believes the payout could be upto 29p per share.Investec believes a positive outcome on its compound interest legal battle could be worth between 150m and 250m which equates to 81p and 135p per SPO share. DYOR
nod: TEB, SPO (we shareholders) have another lump of cash from the sale of Football Pools completed at end of June. The buyback Offer was taken out of the VAT cash. I hope the Board don't do another buyback Offer, it damages sentiment towards the company. The only winners are the paid financial advisors, as evidenced in the share price since the buyback. We Shareholders didn't make any money by either taking the Offer or holding. We are now a company minus the cash wasted on this buyback.
nod: There is no logical reason why a buyback should result in an increase in the share price. The value of the company decreases by the cash used (20 M) but, at the same time, the number of shares in issue decreases and the market value has decreased by the cash spent.Say your company has 100 shares at $1 each and has $100 cash. You spend $10 buying back 10 shares and cancel the shares. Your company now has 90 shares at $1 each and is valued at $90, which equals the cash left. There is no reason why the share price should have increased to $1.05 just because you took out cash.
nod: windfalls could shape the future of gaming group Sportech06:06, 12 NOV 2015Despite fending off a bid from Canada's Contagious Gaming last week, the future shape of Walton-based Sportech remains uncertain.That's because the betting business has received more than one approach from other businesses about acquiring its traditional football pools operations.Formed over recent decades by the merger of old brands like Littlewoods Pools, Vernons and Zetters, and now trading as The Football Pools, this division has been in long-term decline, a process that accelerated with the introduction of the National Lottery in 1994. At its peak, 10m customers a week bet on the pools but that figure has dwindled to 360,000. The potential of The Football Pools division to improve its contribution to Sportech's overall profitability appears limited. It is possible Sportech would be happy to dispose of its pools business, allowing it to concentrate capital and management efforts on developing its technology for trackside and other betting operations in the US, where it employs in excess of 800 staff. In contrast, Sportech has 150 members of staff at Walton.Earlier this year, Sportech sold its 50% stake in a recently formed joint venture, known as NYX, in the American state of New Jersey that provided gaming services to casinos for £12m, a move that produced an £8m profit.One City investment analyst predicts the sale of the pools business could be worth up to £100m. Another chunky cash windfall could result from a successful outcome to the firm's dispute with HM Customs & Excise. Sportech is claiming £97m rebate for what it says is overpaid VAT. The case is set to be heard in the Court of Appeal at a yet to be confirmed date. The receipt of either of these sums would more than wipe out Sportech's £60m of debt.Nick Batram, an investment analyst with Peel Hunt, forecasts that Sportech's pre-tax profit for the current year will be £11.3m, down from £12m last year.In a note published this week, Mr Hunt writes: "Although the Contagious talks have ended, we believe that the group is moving closer to the event or events that will realise some of the inherent value within the business."Both the VAT and Football Pools scenarios would see the group balance sheet transformed. A disposal of the Football Pools would also see Sportech become a focused and predominantly regulated US business. Net debt has reduced by c£3m since H1 (with the receipt of the NYX proceeds) meaning the group is not a forced seller of the pools business. We have trimmed our fair value to reflect developments in Connecticut, but the potential to benefit from an expansion in regulated gaming still remains a real prospect. A recovery in the share price is unlikely to occur until either one of the catalysts is achieved or management can demonstrate the business has stabilised. However, given the scale of the potential upside and the low rating we believe the shares remain a long-term Buy."Sportech makes two-thirds of its revenue in the US. Chief executive Ian Penrose told the Liverpool ECHO: "Despite the interest from Contagious we continue to run our business and develop it going forward. We have to carry on with business as normal until something happens that changes that direction."Sportech has developed technology that processes half of all trackside horse racing and greyhound betting in the US and the group offers similar services to BetFred's tote in Britain and similar trackside betting services in other countries.Sportech also owns a string of bars and restaurants in Connecticut, known as Winners, which offer betting facilities to diners. A similar chain of betting and dining venues is being rolled out in California under a new brand name, Striders
eezymunny: Not really news at all. I assume that there is a timing rule that states HMRC must hand over the dosh, but as it says they must hand it back if HMRC win the appeal. I remain strongly of the view that SPO will win the case (but who knows?). So we await 2 things... . the result of the appeal . news as to whether SPO will try to claim compound interest rather than just simple interest (as paid today). Then the SPO share price really would IMO go through the roof. My original thinking here I've read the VAT case in detail since I posted that and more confident now that they will win - but all down to the UTT judges at the end of the day and not my opinion!
Sportech share price data is direct from the London Stock Exchange
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