Sagi Sells 36.5 Million Playtech Shares
By Brian Cullingworth, Last updated Jul 6, 2017
Represents 11.5 percent of the company
Israeli billionaire Teddy Sagi has sold 36.5 million shares in Playtech plc in an accelerated secondary placing completed today, Tuesday.
Initially, 32 million shares were proposed for sale, however, Sagi’s Brickington Trading investment vehicle agreed to an increased placing due to “strong investor demand” from the collective bookrunners, Goodbody Stockbrokers UC, UBS and Shore Capital Stockbrokers Limited, Playtech said.
The placement represents an 11.5 percent stake in the company with each ordinary share sold for 924 pence, or a total of approximately GBP 337 Million.
As Playtech wasn’t party to the share placement proposal, the Company won’t benefit from any proceeds of the sale.
Brickington, who still holds an approximate 6.3 percent voting share in the company, has agreed to hold any further share disposals for a 180 day period, Playtech advised.
Sagi’s investment interests are apparently focused on real estate and related investments, including flexible working hubs and e-commerce, which will be financed through the sale of the Playtech shares.
Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.
We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.
His passing in February 2019 was a dark day for us. He will be forever missed.
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