Shareholders were originally scheduled to convene on 15 July to discuss an offer from Israeli investment business Barinboim Group. However, the meeting was postponed due to a rival bid from Gopher Investments worth up to $250m. Gopher urged Playtech to delay the meeting and engage in negotiations, resulting in the meeting being rescheduled to 29 July.
The vote has been further postponed to 18 August as Playtech was unable to obtain clarity on the Gopher bid. Shareholders who have already submitted a proxy vote can contact Playtech’s registrar to modify their vote.
Playtech expressed concerns regarding Gopher’s ownership structure and its potential regulatory implications, particularly if there are connections to China. Playtech emphasized that the proposal from Gopher Investments is uncertain and non-binding, subject to various conditions.
While Playtech and Gopher engaged in a dialogue during the past few weeks, Playtech has not received sufficient answers to its queries, hindering progress in the negotiations. Consequently, Playtech’s board continues to support the Barinboim deal. Institutional Shareholder Services (ISS) has backed Gopher’s bid and recommended shareholders to vote against Barinboim’s initial offer.
