Business
Extension to deadline under rule 2.6(C)
Extension to deadline under rule 2.6(C).
About this update from Playtech Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \n \n \n \n \n THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE. \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 17 June 2022\n \n \n \n \n \n \n Playtech plc\n \n \n \n \n \n \n \n \n \n (\"Playtech\" or \"the Company\")\n \n \n \n \n \n \n \n EXTENSION TO DEADLINE UNDER RULE 2.6(C) OF THE CODE\n \n \n \n \n \n \n On 20 May 2022, the Independent Committee of the Board of Playtech (the \"Independent Committee\") announced that the restrictions under Rule 2.8 of the Code in respect of an investor group to be formed and advised by TTB Partners Limited (\"TTB\") had expired. In accordance with Rule 2.6 of the Code, TTB was required by 5.00pm (London time) on 17 June 2022 to announce (i) its firm intention to make an offer for the Company in accordance with Rule 2.7, or (ii) that it does not intend to make an offer for the Company,\n in\n which case the announcement will be treated as a statement to which Rule 2.8 applies.\n \n \n \n \n \n Discussions between the Company and TTB are ongoing and progress continues to be made. At present, the Independent Committee believes allowing additional time for discussions to further develop is in the best interests of the Company's shareholders and other stakeholders. Accordingly, the Independent Committee requested that the Panel on Takeovers and Mergers (the \"Panel\") extend the deadline by which TTB must clarify its intentions. The Panel has granted this extension.\n \n \n \n \n \n In accordance with Rule 2.6 of the Code, TTB is now required, by 5.00pm on 15 July 2022, either to announce (i) its firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or (ii) to announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This dead...