Sagi Company Sells 10 Percent Of Playtech Shares

Brickington will still hold 39 percent of online gambling company

Online gambling software company Playtech plc announced Wednesday that Teddy Sagi's company Brickington Trading Limited – a 49 percent shareholder in Playtech – intends to sell 29.3 million of its shares in Playtech (10 percent of the company) at a price of 725 pence per share via an accelerated bookbuild.

"The Placing Shares represent approximately 10 percent of the company's issued share capital out of Brickington's current holding of approximately 49 percent," a statement from Playtech revealed.

"Following the sale of the Placing Shares, Brickington has agreed not to dispose of any further Playtech shares for a period of at least 12 months, other than with the consent each of Canaccord Genuity, Shore Capital and UBS."

The Playtech statement emphasises that Brickington remains a committed shareholder and will still hold 39 percent of its issued share capital if all the Placing Shares are sold. The Placing would significantly increase Playtech's free float and is expected to allow for increased liquidity in the trading of the company's ordinary shares.

Canaccord Genuity, Shore Capital and UBS have been appointed as joint bookrunners in respect of the Placing, which will be launched immediately following the announcement today through an accelerated bookbuild, open to certain existing and new investors.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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