Playtech plc
('Playtech' or the 'Company')
Update on appeal in respect of Ava Trade Ltd.
Further to its announcement of 23 November 2015, Playtech announces that its appeal against the Central Bank of Ireland's ("CBI') decision to oppose its application to acquire Ava Trade Ltd. ("Ava Trade") has concluded. The appeal was allowed by the Irish Financial Services Appeals Tribunal, with the consent of the CBI, on the grounds of error in the CBI's decision-making process. The appeal therefore succeeded. In these circumstances, the matter was remitted to the CBI for reconsideration and a new decision.
However, although the application was referred back to the CBI for further consideration, as the proposed acquisition of Ava Trade was terminated by the sellers on 23 November 2015, Playtech has withdrawn its application, bringing this process to a conclusion.
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For further information contact:
Playtech plc Mor Weizer, Chief Executive Officer Ron Hoffman, Chief Financial Officer c/o Bell Pottinger Andrew Smith, Head of Investor Relations |
+44 (0)20 3772 2500 +44 (0)1624 645954 |
Bell Pottinger David Rydell / Olly Scott / David Bass / James Newman |
+44 (0)20 3772 2500 |
