Playtech founder sells 4 percent share

News on 15 Mar 2017

In a stock exchange announcement Wednesday, Playtech founder Teddy Sagi, through his investment company Brickington Trading Limited (Brickington), has sold off 13 million Playtech shares to Boussard & Gouvaudan Investment Management LLP for 872.5 pence per share or a total sum of GBP 113.4 million.

Following completion of the sale, Brickington will remain Playtech’s largest single shareholder with a holding in Playtech of 56,582,169 ordinary shares, representing 17.8 percent of voting rights in the company.

Brickington was released from a 180 day lock-up arrangement it has with Playtech concerning the disposal of shares with the consent of UBS Limited (UBS). The company has agreed, however, not to sell any further Playtech shares until May 29, 2017 and Boussard & Gavaudan have also agreed to a lock up agreement until the same date.

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