Shares of Sportech began trading today, July 28th, on the AIM platform at a price of £0.20 (€0.24/$0.28), marking the company’s switch from the Official List. The decision to move to AIM was driven by the desire for greater flexibility in corporate transactions and faster, more cost-effective execution of certain transactions. This proposal was approved at Sportech’s general meeting on June 29th and has now come into effect.
As a result of the switch to AIM, Sportech has cancelled the admission of its ordinary shares to both the Official List of the Financial Conduct Authority and the Main Market of London Stock Exchange.
This strategic move follows Sportech’s recent sale of its racing, tote, and digital business to BetMakers Technology Group, an Australian supplier. The agreement, valued at £30.9m (€36.3m/$42.9m), allows BetMakers to take control of Sportech’s Global Tote business. This business segment offers pari-mutuel technology and services to horse race betting operators worldwide.
