Tag Archives: Richard McGuire

Sportech has completed its final day of trading as a listed enterprise of the London Alternative Investment Market (AIM) as of 16 October.  The decision to de-list from the London AIM was formally announced on 11 September by the board of Sportech, following a review of the firm’s long-term interests and options. Following its de-listing, Sportech will re-register its business …

The board of Sportech Plc has informed investors of its intentions to cancel the trading of ordinary shares on the London AIM Exchange. The recommendation follows a comprehensive review by the board considering “the pros and cons of the company being publicly traded on the London AIM”.   The review highlighted substantial costs (both monetary and other) tied to being a …

Sportech Plc has informed investors that Nicola Rowlands has chosen to resign as Chief Financial Officer (CFO) of the London AIM-listed wagering technology and racing systems supplier. Rowlands will resign from CFO duties on 30 September, having agreed to join digital marketing services group DEPT as Deputy CFO Sportech promoted Rowlands to CFO in August last year, replacing former incumbent …

Sportech Plc has announced that Giles Vardey has decided to end his tenure as Non-Executive Chairman of the London AIM-listed wagering and racing systems supplier.  Last week, Vardey notified Sportech’s board of directors that he would not seek re-election as chairman of the company, a position that he had served since July 2019. Former Sportech Chief Executive Richard McGuire (2019-to-2021) …

Sportech Plc has outlined its transformed organisation that is refocused on delivering a stronger balance sheet performance and profits for investors.  Publishing its first interim results as a London AIM listed enterprise, Sportech registered group revenues to £13.5 million up 70% on corresponding 2020 results of £7.9 million.  Period growth was attributed to Sportech’s 11 US Venue subsidiaries that registered …

Sportech Plc has this morning confirmed that its leadership team of Richard McGuire (CEO) and Tom Hearne (CFO) will step down following the release of the company’s interim results on 9 September. The duo will be replaced by Sportech COO Andrew Lindley, who will serve as new CEO, supported by the promotion of Group Financial Controller Nicola Rowlands to CFO. …

Sportech Plc has revealed its intentions to launch a tender offer, which has proposed an ‘up to £35.5 million payout’ to existing company shareholders. The tender offer has been sanctioned by Sportech’s senior leadership, with the wagering systems provider aiming to recapture 47% of its issued share capital – reported to be 88.8 million ordinary shares. Sportech has offered its …

Sportech Plc has confirmed that it has completed its full public listings migration onto the London AIM exchange.  As of 8:00 AM this morning, the London AIM accepted the admission of Sportech shares priced at 20 pence each, with the wagering and racing systems supplier maintaining its ‘SPO’ ticker. Sportech’s listings migration was first proposed last June, as the company’s …

Sportech Plc has delivered better than anticipated 2020 financial performance, offsetting the COVID-19 headwinds severely impacting global horseracing events and fixtures.  Publishing its full-year 2020 results, the LSE-listed wagering and racing systems provider saw its group revenues fall to £20 million, down 41% on corresponding FY2019 results of £34 million. “COVID-19 severely impacted the business resulting in a 28% decline …

The board of Sportech Plc has stated confidence that the LSE firm will deliver its full-year 2020 EBITDA results in line with corporate expectations. Issuing a pre-close 2020 trading statement, Sportech noted that despite enduring COVID-19 headwinds the company maintained its operational efficiencies across its core business verticals. Meeting unprecedented headwinds, Sportech focused 2020 trading on capital preservation and strengthening …