HARDMAN & CO RESEARCH Hardman & Co Research: Sportech plc (SPO): Cashed up

Transparency directive : regulatory news

09/04/2021 10:35

Hardman & Co Research
Hardman & Co Research: Sportech plc (SPO): Cashed up

09-Apr-2021 / 09:35 GMT/BST

Hardman & Co Research: Cashed up

Sportech (SPO) has contracted to sell its largest business, Global Tote, its Bump 50:50 raffle business and a freehold property in Connecticut (CT) for a combined net ca.£36m. All the transactions are expected to complete in the first half of 2021, leaving SPO with the venues business and a lottery franchise, as well as a £33m pile of cash net of other financial liabilities. The final piece of the jigsaw is its role in the deregulation of sports betting in CT, which is uncertain but could provide significant further upside. SPO is indicating a significant return of surplus cash once it has all been collected.

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Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.


Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

1182958  09-Apr-2021 


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