Playtech PLC Update on Board Succession & Notice of AGM (8811K)
27 Abril 2020 - 1:00AM
UK Regulatory
TIDMPTEC
RNS Number : 8811K
Playtech PLC
27 April 2020
Playtech PLC
('Playtech' or the 'Company')
Update on Board Succession
Notice of Annual General Meeting
Update on Board Succession
Playtech is pleased to announce that Claire Milne has been
appointed as Interim Chairman. The appointment will take effect
from the conclusion of the Company's Annual General Meeting ('AGM')
on 20 May 2020. Claire will succeed Alan Jackson, who had
previously indicated he would not be standing for re-election at
the AGM and will therefore step down from the Board immediately
prior to the meeting.
Claire has served as a Non-Executive Director of Playtech since
July 2016 and is the Chairman of the Risk Committee, and a Member
of the Remuneration and Nominations Committee.
As announced in February, the recruitment of a new Chairman was
at an advanced stage when the COVID-19 Pandemic began its global
impact. However, considering the current business and market
environment, it has been decided to delay the process of appointing
a permanent Chairman. This decision took account of the travel
restrictions which inevitably impacted on the ability to conclude
the comprehensive process to select a new Chairman, and the ability
to carry out an effective induction programme for any external
appointee to get to know the business, and to meet regularly with
the CEO, CFO, Board Members and senior management internationally
at this important time.
The Board is therefore delighted that Claire has agreed to
become the Chairman on an interim basis, providing the continuity
and stability that will significantly aid the Company at this time.
The process to appoint a permanent Chairman will conclude once the
business and market environment normalise.
Claire Milne, incoming Interim Chairman, said:
"The impact of the COVID-19 Pandemic has led us to temporarily
pause the final stages of our recruitment process. I am very
pleased to have been asked to act as Interim Chairman and will look
to provide the necessary continuity ahead of the process
concluding. On behalf of the Board and the entire management team,
I would also like to thank Alan for his service to Playtech, and
for his enthusiasm and his dedication to the business as a
Non-Executive director since our IPO in 2006 and, in particular, as
our Chairman for the last 7 years."
The remuneration for the Interim Chairman of Playtech has been
set at GBP290,000 per annum. However, following the Board's
decision to implement a pay reduction of 20% for executive and
non-executive directors with effect from 1 April 2020 in response
to the COVID-19 situation, the Interim Chairman's annual
remuneration shall be GBP232,000 for the immediate future.
Notice of Annual General Meeting
Playtech announces that its 2020 Annual General Meeting ('AGM')
will be held in the Isle of Man at 10.00 am on Wednesday 20 May
2020. In order to meet current government restrictions in place
with respect to COVID-19, shareholders are not able to attend this
year's AGM in person. Shareholders can submit questions in advance
of the meeting as outlined in the AGM notice.
In accordance with Listing Rule 9.6.1, copies of the AGM notice
and Annual Report have been submitted to the National Storage
Mechanism and are available to view at www.morningstar.co.uk/uk/NSM
and on the Company's website
www.investors.playtech.com/annual-reports .
- ENDS -
For further information please contact:
Playtech plc
Chris McGinnis, Director of
Investor Relations & Strategic
Analysis
James Newman, Director of Corporate
Affairs +44 (0) 16 2464 5954
Headland (PR adviser to Playtech)
Lucy Legh, Stephen Malthouse +44 (0) 20 3805 4822
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a technology leader in the
gambling and financial trading industries.
Playtech is the gambling industry's leading technology company
delivering business intelligence driven gambling software,
services, content and platform technology across the industry's
most popular product verticals, including, casino, live casino,
sports betting, virtual sports, bingo and poker. It is the pioneer
of omni-channel gambling technology through its integrated platform
technology, Playtech ONE. Playtech ONE delivers data driven
marketing expertise, single wallet functionality, CRM and
responsible gambling solutions across one single platform across
product verticals and across retail and online.
Playtech partners with and invests in the leading brands in
regulated and newly regulated markets to deliver its data driven
gambling technology across the retail and online value chain.
Playtech provides its technology on a B2B basis to the industry's
leading retail and online operators, land-based casino groups and
government sponsored entities such as lotteries. As of June 2018,
through the acquisition of Snaitech, Playtech directly owns and
operates a leading sports betting and gaming brand in online and
retail in Italy, Snai.
Playtech's Financials Division, named TradeTech Group, is a
technology leader in the CFD and financial trading industry and
operates both on a B2B and B2C basis.
Playtech has in total c.6,000 employees across 21 countries and
is headquartered in the Isle of Man.
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END
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