laytech has placed just over 46.5 million shares at a price of £ 2.15 each with investment firm Brickington Trading Limited, which is its largest current investor, along with ‘certain institutional shareholders’ of which 27.7 million will be available for placing with institutional shareholders via ‘clawback’ dependent on demand.
Playtech revealed that the placing shares represent approximately 19 percent of its total issued share capital and will see its total share capital increase to 289,209,348 upon admission.
Brickington, which holds 40.3 percent of Playtech, has conditionally agreed to underwrite the full placement and could see its stake in the firm rise to a maximum of 49.9 percent should institutional investors not purchase all of the 27.7 million shares being made available.
“After consultation with our major institutional shareholders, I am delighted with the support we have been given,” said Mor Weizer, Chief Executive Officer for Playtech.
“On the basis that the placing is approved by shareholders, these funds will deliver us immediate firepower for the strategic acquisitions and joint ventures we see before us.
“As part of this exercise, the board has re-confirmed its commitment to move to the main market and announced a revised dividend policy. We continue to enjoy strong current trading and, when taken all together, these actions will take Playtech to the next level.”