Wednesday March 5,2014 : SAGI BOOSTS SALE OF PLAYTECH SHARES (Update)
Brickington to increase size of placing to 45 million shares.
In a follow on from earlier press statements today , Playtech has announced that Teddy Sagi's Brickington Trading Limited's proposal to sell approximately 29.3 million ordinary Playtech shares at a price of 725 pence per ordinary share has been expanded.
Brickington says that due to overwhelming demand from existing and new investors, it has agreed with the Bookrunners to increase the size of the Placing to 45 million shares at the same Placing Price (725 pence) which Brickington has advised have been sold to new and existing investors.
Following the Placing, Brickington retains a beneficial interest in 98,645,782 Ordinary Shares in Playtech, representing 33.6 percent of the Company's issued share capital.
Brickington has agreed not to make any further disposals of Ordinary Shares for a period of at least 12 months, other than with the consent each of Bookrunners – Canaccord Genuity, Shore Capital and UBS.
Playtech has additionally announced that it has established an employee benefit trust in order to satisfy the vesting of existing and future option grants to Playtech group employees.
Playtech confirms that Roxwell Investments Limited (a wholly owned subsidiary of the company) in its capacity as the initial trustee of the Trust has acquired 5,517,241 Ordinary Shares from Brickington at the Placing Price, as part of the enlarged placing, representing approximately 1.9 percent. of the company's issued share capital.
The company's executive directors and other persons discharging managerial responsibility have an interest in such shares solely on the basis that they are potential discretionary beneficiaries of the Trust.
The company has also advised that Playtech CEO Mor Weizer, and CFO Ron Hoffman have acquired 36,000 ordinary shares and 10,000 ordinary shares respectively in the enlarged placing.