Brickington has agreed to sell 13.0 million Playtech shares
Playtech plc (“Playtech”) announces it has been notified by Brickington Trading Limited (“Brickington”) that following a direct and unsolicited inbound enquiry to Brickington by Boussard & Gavaudan Investment Management LLP (“Boussard & Gavaudan”), Brickington has agreed to sell 13.0 million Playtech shares to them at a price of 872.5 pence per share (the “Sale”). The Sale shares are equivalent to 4.1 per cent of Playtech’s current total issued ordinary share capital and will be subject to a lock-up.
Following completion of the Sale, Brickington’s holding in Playtech will reduce to 56,582,169 ordinary shares, representing 17.8 per cent. of voting rights in Playtech.
Brickington is a wholly owned subsidiary of a trust of which Playtech’s founder, Mr. Teddy Sagi is the ultimate beneficiary. Brickington will continue to be Playtech’s largest single shareholder following the Sale.
In order to enable Boussard & Gavaudan to make this significant investment in Playtech, Brickington has been released with the consent of UBS Limited (“UBS”) from the 180 day lock-up arrangement put in place at the time of its disposal of ordinary shares in Playtech in early December 2016. Following the Sale, Brickington has agreed not to sell any Playtech shares until 29 May 2017 at the earliest, subject to the same customary exceptions and UBS’s consent. Boussard & Gavaudan has also agreed to a lock up arrangement on the Playtech shares they are acquiring from Brickington for the same period ending on 29 May 2017. UBS executed the Sale on behalf of Brickington.
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