Sportingbet PLC SBT Extension of deadline under Rule 2.6(c)

  Sportingbet PLC (SBT) - Extension of deadline under Rule 2.6(c)

RNS Number : 9430Q
Sportingbet PLC
13 November 2012




13 November 2012



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN  WHOLE OR IN PART IN, INTO  OR 
FROM ANY  JURISDICTION WHERE  TO DO  SO WOULD  CONSTITUTE A  VIOLATION OF  THE 
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION



THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN  OFFER 
UNDER RULE 2.7  OF THE CITY  CODE ON  TAKEOVERS AND MERGERS  (THE "CODE")  AND 
THERE  CAN  BE  NO  CERTAINTY  THAT  AN  OFFER  WILL  BE  MADE,  EVEN  IF  THE 
PRE-CONDITIONS ARE SATISFIED OR WAIVED



 Announcement by the Boards of Sportingbet plc ("Sportingbet"), William Hill
          plc ("William Hill") and GVC Holdings plc ("GVC Holdings")

                                      

             Extension of deadline under Rule 2.6(c) of the Code



In accordance with Rule 2.6(a) of the Code, William Hill and GVC Holdings were
required, by not later than 5.00 p.m. on 13 November 2012, to either  announce 
a firm intention to make an offer for Sportingbet in accordance with Rule  2.7 
of the Code or announce they do not  intend to make an offer. At the  request 
of Sportingbet, the Panel has consented to an extension of this deadline until
5.00 p.m. on 4 December 2012, to enable the parties to continue their on-going
discussions regarding a possible offer for Sportingbet.



There is no certainty that at the end of this period, an offer for Sportingbet
will be made, nor as to the terms  of any such offer (if made). This  deadline 
may be  extended further  with  the consent  of  the Panel,  at  Sportingbet's 
request, in accordance with Rule 2.6(c) of the Code.



This announcement  is being  made with  the consent  of William  Hill and  GVC 
Holdings.



A  further  announcement  will  be  made  as  appropriate.  A  copy  of   this 
announcement    will     be     available     on     Sportingbet's     website 
(www.sportingbetplc.com), on GVC  Holdings' website  (www.gvc-plc.com) and  on 
William Hill's website (www.williamhillplc.com).



The content  of  the  websites  referred  to  in  this  announcement  are  not 
incorporated into and do not form part of this announcement.



Enquiries:



William Hill                                               +44 (0)20 8918 3614

Lyndsay Wright, Director of IR


Citi (Lead Financial Adviser  and Joint Broker to  William +44  (0)20     7986 
Hill)                                                      4000

Jan Skarbek

Andrew Seaton
Investec (Financial Adviser  and Joint  Broker to  William +44  (0)20     7597 
Hill)                                                      5970

Chris Treneman

James Rudd


Brunswick (PR Adviser to William Hill)                     +44 (0)20 7404 5959

Simon Sporborg


GVC Holdings                                               +44 (0)20 7398 7702

Kenneth Alexander, Chief Executive Officer

Richard Cooper, Group Finance Director
Daniel  Stewart  (Financial  Adviser  and  Broker  to  GVC +44 (0)20 7776 6550
Holdings)

Paul Shackleton

David Hart



Abchurch (PR Adviser to GVC Holdings)                      +44 (0)20 7398 7702
Henry Harrison-Topham
Sportingbet                                                +44 (0)20 7184 1800

Andrew McIver                                              

Jim Wilkinson
Lazard (Financial Adviser to Sportingbet)                  +44 (0)20 7187 2000

Cyrus Kapadia                                              

Aamir Khan
Canaccord Genuity Limited (Broker to Sportingbet)          +44 (0)20    7523   
                                                           8350
Erik Anderson

Bruce Garrow
Maitland (PR Adviser to Sportingbet)                       +44 (0)20 7379 5151

George Hudson                                              +44 (0)75    9527   
                                                           0877
Daniel Yea
                                                           +44 (0)75    9527   
                                                           0691



Important Notice



Citigroup Global Markets Limited, who is authorised and regulated in the UK by
the Financial Services Authority, is acting  for William Hill and no-one  else 
in connection with the possible offer and will not regard any other person  as 
a client in  relation to the  possible offer  and will not  be responsible  to 
anyone other than William Hill for  providing the protections afforded to  its 
clients or  for providing  advice in  relation to  the possible  offer or  any 
matters referred to in this announcement.



Investec Investment  Banking,  a  division  of  Investec  Bank  plc,  who  is 
authorised and regulated  in the UK  by the Financial  Services Authority,  is 
acting for William Hill and no-one else in connection with the possible  offer 
and will not regard any other person  as a client in relation to the  possible 
offer and  will not  be responsible  to  anyone other  than William  Hill  for 
providing the protections afforded to its  clients or for providing advice  in 
relation  to  the  possible  offer  or   any  matters  referred  to  in   this 
announcement.



Daniel Stewart & Company plc, who is authorised and regulated in the UK by the
Financial Services Authority, is  acting for GVC Holdings  and no-one else  in 
connection with the possible offer and will  not regard any other person as  a 
client in relation to the possible offer and will not be responsible to anyone
other than GVC Holdings for providing the protections afforded to its  clients 
or for  providing advice  in relation  to the  possible offer  or any  matters 
referred to in this announcement.



Lazard &  Co., Limited,  who is  authorised and  regulated in  the UK  by  the 
Financial Services Authority,  is acting  for Sportingbet and  no-one else  in 
connection with the possible offer and will  not regard any other person as  a 
client in relation to the possible offer and will not be responsible to anyone
other than Sportingbet for providing  the protections afforded to its  clients 
or for  providing advice  in relation  to the  possible offer  or any  matters 
referred to in this announcement.



Canaccord Genuity Limited, who  is authorised and regulated  in the UK by  the 
Financial Services Authority,  is acting  for Sportingbet and  no-one else  in 
connection with the possible offer and will  not regard any other person as  a 
client in relation to the possible offer and will not be responsible to anyone
other than Sportingbet for providing  the protections afforded to its  clients 
or for  providing advice  in relation  to the  possible offer  or any  matters 
referred to in this announcement.



Dealing Disclosure Requirements of the Takeover Code



Under Rule 8.3(a) of the Code, any person  who is interested in 1% or more  of 
any class of relevant securities of an offeree company or of any paper offeror
(being any offeror  other than  an offeror  in respect  of which  it has  been 
announced that its offer is, or is likely to be, solely in cash) must make  an 
Opening Position Disclosure  following the  commencement of  the offer  period 
and, if later, following the announcement in which any paper offeror is  first 
identified. An  Opening  Position  Disclosure  must  contain  details  of  the 
person's interests and short  positions in, and rights  to subscribe for,  any 
relevant securities of  each of  (i) the offeree  company and  (ii) any  paper 
offeror(s). An Opening  Position Disclosure by  a person to  whom Rule  8.3(a) 
applies must  be made  by no  later than  3.30 pm  (London time)  on the  10th 
business  day  following  the  commencement  of  the  offer  period  and,   if 
appropriate, by no later than 3.30 pm  (London time) on the 10th business  day 
following the announcement  in which  any paper offeror  is first  identified. 
Relevant persons who deal in the relevant securities of the offeree company or
of a  paper offeror  prior to  the  deadline for  making an  Opening  Position 
Disclosure must instead make a Dealing Disclosure.



Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant  securities of the offeree company or of  any 
paper offeror  must make  a Dealing  Disclosure  if the  person deals  in  any 
relevant securities of the offeree company or of any paper offeror. A  Dealing 
Disclosure must contain details of the  dealing concerned and of the  person's 
interests and short positions  in, and rights to  subscribe for, any  relevant 
securities of each of (i) the offeree company and (ii) any paper offeror, save
to the extent that these details have previously been disclosed under Rule  8. 
A Dealing Disclosure by a person to  whom Rule 8.3(b) applies must be made  by 
no later than 3.30 pm (London time) on the business day following the date  of 
the relevant dealing.



If two or more persons act together pursuant to an agreement or understanding,
whether formal or  informal, to  acquire or  control an  interest in  relevant 
securities of an offeree company or a paper offeror, they will be deemed to be
a single person for the  purpose of Rule 8.3.  William Hill, GVC Holdings  and 
the Panel have agreed that for the purposes of this offer period GVC  Holdings 
will be treated as a paper offeror for the purposes of Rule 8.



Opening Position Disclosures must also be  made by the offeree company and  by 
any offeror and Dealing Disclosures must also be made by the offeree  company, 
by any offeror  and by any  persons acting in  concert with any  of them  (see 
Rules 8.1, 8.2 and 8.4).



Details of the  offeree and  offeror companies  in respect  of whose  relevant 
securities Opening Position Disclosures and  Dealing Disclosures must be  made 
can be  found in  the Disclosure  Table  on the  Takeover Panel's  website  at 
www.thetakeoverpanel.org.uk, including  details  of  the  number  of  relevant 
securities in issue, when the offer period commenced and when any offeror  was 
first identified. You should contact  the Panel's Market Surveillance Unit  on 
+44 (0)20 7638 0129 if you are in any doubt as to whether you are required  to 
make an Opening Position Disclosure or a Dealing Disclosure.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


OUPLLFSTLTLFLIF -0- Nov/13/2012 07:00 GMT
 
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