Sportech to start seeking offers for company

Gaming company and supplier Sportech has announced it will start seeking offers for the company, following a comprehensive review of the business and its capital structure.

“Having completed the initial stages of the Strategic Review, the Board of Sportech has decided to seek offers for the Company, and has appointed Canaccord Genuity Limited as its financial adviser for this process,” said the company in a press release.

Any discussions with third parties may be conducted within the context of a "formal sale process, " and the company is now considered to be in an "offer period" as defined in the Takeover Code, it added.

Sportech says it expects to provide a further update on the Strategic Review along with its trading update on November 9, 2017, and that further announcements regarding the timetable for the formal sale process will be made “when appropriate.”

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