Playtech announces Remuneration Committee change

Maria Nikolova

Ian Penrose will succeed John Jackson as Chair of the Remuneration Committee.

Playtech PLC (LON:PTEC) is reshuffling its Remuneration Committee – this becomes clear from an announcement made by the company earlier today. Playtech says that Ian Penrose will succeed John Jackson as Chair of the Remuneration Committee. The change will be effective from November 1, 2018.

In addition, the company said that, ahead of its Investor & Analyst Day in Milan on November 14, 2018, Playtech expects to make a brief trading statement on November 12, 2018 (Monday).

Earlier in October, Playtech announced the successful pricing of €530 million 3.75 % senior secured notes due 2023. The Notes are expected to be assigned on issue a rating of BB by S&P Global Ratings Europe Limited, UK Branch and Ba2 by Moody’s Investors Service Ltd.

The company explained that the net proceeds of the issue of the Notes, along with Playtech’s existing cash resources, will be used to repay all amounts outstanding under the bridge facility utilised for the acquisition of Snaitech S.p.A., to fund the redemption of the outstanding high-yield bonds issued by Snaitech and to pay for other transaction-related costs and expenses.

About a month before that, Playtech announced the disposal of its entire holding in online trading firm Plus500 Ltd (LON:PLUS). On September 7th, Playtech said it had sold its entire holding of approximately 11.4 million ordinary shares in Plus500 at a price of 1,550 pence per ordinary share. Thus, Playtech realized gross proceeds of approximately £176 million (equivalent to approximately €196 million at the time the announcement was made).

Playtech explained back then it will use the proceeds for general corporate purposes and debt reduction.

Read this next

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

Digital Assets

Crypto Is An Invaluable Tool In The Fight Against Financial Oppression  

Crypto has proven itself to be much more than just a hot investment. Indeed, some say it’s poised to play a critical role in the future of finance

Executive Moves

Parameta appoints Head of Benchmark and Indices with a focus on ESG and rates

The firm said building out its benchmarks & indices offering will now be a core priority, with a particular focus on the ESG and rates space.

Digital Assets

WunderTrading brings automated crypto trading to United States

“Among developed countries, Americans are the heaviest users of cryptocurrencies, with 13% having invested in cryptocurrencies over the past year.”

Retail FX

ACY Securities sponsors child safety and family welfare charity Barnardos Australia

Sponsoring Barnardos will give ACY Securities and its employees an opportunity to do volunteer work through different outreach programs.

<