Playtech sells holding in Plus500

In a stock exchange advisory Friday Playtech plc advised that it has sold its entire holding of approximately 11.4 million ordinary shares in CFD provider Plus500 Ltd at a price of 1,550 pence per ordinary share, realising gross proceeds of approximately GBP 176 million.

The proceeds from the sale will be used for general corporate purposes and debt reduction.

Playtech notes that the sale will not impact its entitlement to the interim dividend announced by Plus500 on 13 August 2018, equivalent to approximately $16 million.

The stake represents approximately 9.99 percent of Plus500’s issued share capital. The sale is expected to settle on a T+2 basis, on 11 September 2018. Following completion of the sale, Playtech will no longer hold any interest in Plus500’s ordinary shares.

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