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BRIEF-Sportech sells stake in Sportech-NYX Gaming for $12 mln
May 28, 2015 / 11:08 AM / 3 years ago

BRIEF-Sportech sells stake in Sportech-NYX Gaming for $12 mln

May 28 (Reuters) - Sportech Plc :

* Sportech sells stake in Sportech-NYX Gaming

* For a total consideration of up to CAD$22.9 million (£12.0 million), generating an estimated pre-tax profit on its investment of CAD$16.8 million

* Following disposal, Sportech will own 2.2 million NYX ordinary shares, representing approximately 6.1 per cent of enlarged share capital of NYX

* Has agreed to a 12-month lock-up in relation to consideration shares

* Disposal comprises group’s 50 pct interest in SNG which includes one customer contract, online casino software as well as a number of employees

* Cash component of consideration shall be received in two tranches: CAD$5 million payable on completion and CAD$5 million payable by no later than 19 August, 2015 Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +44 207 542 1810)

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