Bolts 50:50 Raffle Hits $160K!

Update from Sportech’s Bump 50:50 :

Here is our President of Bump 50:50, Dan Tanenbaum celebrating Tampa Bay Lightning Bolts 50:50 All-Star Raffle hitting $160K at the weekend.

The final jackpot totalled at $276,414.

For more information about Bump 50:50 and their electronic raffle systems, visit the Bump 50:50 website.

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Bump 50:50 Powers Lightning Foundation Progressive Raffle for NHL® All-Star Game

Bump 50:50, a division of Sportech Racing and Digital, announces the successful launch of the Lightning Foundation 50/50 Raffle, a new online, progressive 50/50 raffle for the National Hockey League’s Tampa Bay Lightning, powered by Bump 50:50 digital raffle technology.

The website, www.tblightning.bump5050.com, offers residents of most Florida counties the ability to purchase 50/50 raffle tickets in the days leading up to the 2018 NHL® All-Star Game on Sunday, January 28, 2018. The raffle will continue both online and at the Amalie Arena during the All-Star game, and at events and activities to be held in and around various venues in Tampa, FL.

Visitors to www.tblightning.bump5050.com can purchase raffle tickets, check for winning tickets, and claim their prize.

Proceeds from the winner-takes-half raffle will go to the NHL All-Star Legacy Project and the Boys & Girls Clubs of Tampa Bay.

Dan Tanenbaum, President of Bump 50:50, stated, “The implementation of the Lightning Foundation progressive raffle through both online and arena sales channels harnesses the excitement of the All-Star event to generate funds for exciting local charities and community projects and we are very happy that Bump 50:50 technology has helped bring this multi-channel raffle event to the NHL fans in Florida.”

For more information about Bump 50:50 and their electronic raffle systems, visit the Bump 50:50 website.

Notice to Shareholders

Following our announcement on 16 November 2017 regarding the confirmation of capital reduction and distributions to shareholders, please note that dividend cheques have been posted out to all shareholders. If any shareholder has not received their cheque, please contact our registrars, Link Asset Services on 0871-664-0300, who will be able to assist you further, but are likely to levy a charge to you, which the company is not in a position to waive.

Departing Directors’ Statement

Departing Directors’ Statement

Section 430(2B) Companies Act 2006 Statement

The following information is provided in accordance with section 430(2B) of the Companies Act 2006.

As announced on 18 September 2017, Ian Penrose and Mickey Kalifa are stepping down from their current roles as Chief Executive Officer and Chief Financial Officer respectively and from the Board of Sportech plc. Mr Penrose’s employment will end on 31st December 2017 and Mr Kalifa’s employment will end on 31st October 2017.

The following arrangements in respect of their employment and remuneration have been determined by the Group’s Remuneration Committee. All payments and arrangements are in line with the Company’s Directors’ Remuneration Policy approved by shareholders at the AGM in April 2017. Further details will be included in the Company’s 2017 Annual Report, to be published in the spring of 2018.

Mr Penrose and Mr Kalifa will continue to receive their salary and contractual benefits up until the end of their respective employments.
Following the end of his employment, Mr Penrose will be entitled to receive a payment of £1,000 in consideration of obligations agreed with the Company in respect of the period of six months following the end of his employment, £448,920 as damages for breach of contract in respect of his notice period (which equates to 12 months’ salary and benefits under his contract of employment), a payment of £50,000 as compensation for loss of office together with a payment of £15,340 in lieu of ten days’ holiday accrued but untaken.
Following the end of his employment Mr Kalifa will be entitled to receive a payment of £254,000 (which equates to 12 months’ notice entitlement under his contract of employment) together with a payment of £50,000 as compensation for loss of office.
Mr Penrose and Mr Kalifa will remain entitled to receive an annual bonus in respect of 2017, to be paid at the usual time and pro-rated to the end of their respective employments. These bonuses, which will be subject to malus and clawback provisions, will be determined by the Remuneration Committee in the normal way, considering the detailed financial and strategic objectives applying to such bonuses, save for certain strategic objectives irrevocably attained to date. The minimum bonus payment payable to Mr Penrose in respect of such objectives will be £159,600 and the minimum bonus payment payable to Mr Kalifa in respect of such objectives will be £81,915.
The following arrangements apply to the long-term incentive awards which will be outstanding on the dates when Mr Penrose and Mr Kalifa’s employments end:

Mr Penrose

The award granted to Mr Penrose in 2015 under the Sportech LTIP (LTIP) will vest in line with its original vesting date, subject to the satisfaction of the original performance conditions. No pro-rating for time will be applied to this award.
The award granted to Mr Penrose in 2016 under the LTIP will vest in line with its original vesting date, subject to the satisfaction of the original performance conditions, and will be pro-rated to reflect the period of time from 9 March 2016 to 9 March 2018 as compared to three years save that, where this award vests in the context of a takeover of the Company and the Remuneration Committee exercises its discretion to accelerate the vesting of all other outstanding awards granted under the LTIP, the pro-rating of this award will be calculated by reference to the period of time from 9 March 2016 to 9 March 2018 as compared to the period of time from 9 March 2016 to the date of the takeover.
All awards granted to Mr Penrose under the LTIP will continue to be subject to malus and clawback provisions.
Mr Penrose will be entitled to retain the shares issued to him pursuant to the Sportech PLC Value Creation Plan (VCP) and such shares will vest, subject to performance, on their normal vesting date (being 1 January 2022 or, if earlier, the date of a takeover or demerger of the Company). The number of shares that will vest will be reduced to reflect the period of time from 31 December 2018 to the vesting date as compared to the period of time from 1 January 2017 to the vesting date. If the vesting date falls on or before 31 December 2018 (that is, as a result of a takeover or demerger), Mr Penrose’s VCP shares will vest in full.
Mr Kalifa

The award granted to Mr Kalifa in 2015 under the LTIP will vest in line with its original vesting date, subject to the satisfaction of the original performance conditions, and will be pro-rated to reflect the period of time from the date of grant to 31 December 2017 as compared to three years.
The award granted to Mr Kalifa in 2016 under the LTIP will vest in line with its original vesting date, subject to the satisfaction of the original performance conditions, and will be pro-rated to reflect the period of time from 9 March 2016 to 31 December 2017 as compared to three years save that, where this award vests in the context of a takeover of the Company and the Remuneration Committee exercises its discretion to accelerate the vesting of all other outstanding awards granted under the LTIP, the pro-rating of this award will be calculated by reference to the period of time from 9 March 2016 to 31 December 2017 as compared to the period of time from 9 March 2016 to the date of the takeover.
All awards granted to Mr Kalifa under the LTIP will continue to be subject to malus and clawback provisions.
Mr Kalifa will be entitled to retain the shares issued to him pursuant to the VCP and such shares will vest, subject to performance, on their normal vesting date (being 1 January 2022 or, if earlier, the date of a takeover or demerger of the Company). The number of shares that will vest will be reduced to reflect the period of time from 6 September 2018 to the vesting date as compared to the period of time from 1 January 2017 to the vesting date. If the vesting date falls on or before 6 September 2018 (that is, as a result of a takeover or demerger), Mr Kalifa’s VCP shares will vest in full.

Departing Director Statement – David McKeith

The following information is provided in accordance with Section 430(2B) of the Companies Act 2006.
As previously announced, David McKeith resigned as a Non-Executive Director of the Company on 23 August 2016.
The Company confirms that David McKeith will receive three months’ Board, Audit and Remuneration Committee fees in lieu of notice at the rates set out in the Company’s 2015 Annual Report & Accounts. No other remuneration payment will be made by the Company to Mr McKeith.

Departing Director Statement – Roger Withers

The following information is provided in accordance with Section 430(2B) of the Companies Act 2006.

As previously announced, Roger Withers resigned as Non-Executive Chairman of the Company on 24th May 2017. The Company confirms that Roger Withers will receive his annual Chairman’s fee set out in the Company’s 2016 Annual Report & Accounts on a pro-rata basis up to and including 24th May 2017 and a settlement of £30,000 for three months’ notice, per his contracted terms with the Company.

Ellis Park and Kentucky Downs Upgrade Their Betting Services with Sportech Racing and Digital

Sportech Racing and Digital announces that it has been selected by Ellis Park as its new provider of pari-mutuel betting technologies and services. This agreement follows another new tote services contract signed earlier this year with Kentucky Downs.

Sportech began providing totalisator services to Kentucky Downs just before commencement of its record-breaking live meet under a contract that includes Sportech’s BetJet® terminals.
Sportech will commence with tote services for Ellis Park in January 2017. As with Kentucky Downs, Sportech will deliver betting services to Ellis Park with its world-class Quantum™ System– the world’s most widely-deployed pari-mutuel betting software – operated from Sportech’s state-of-the-art Global Quantum™ Data and Operations Center.

Patrons of Ellis Park will also enjoy an upgrade in the betting technologies available to them, including Sportech’s new BetJet® SL 2.5 self-service terminals and the Sportech Tablet for wireless account betting.

Ellis Park’s President, Ron Geary, stated, “We evaluated our options and were impressed with Sportech Racing and Digital’s technology, their track record, and their independence. We are looking forward to a smooth transition to the new technologies and to offering our players an overall improved betting experience.”

Corey Johnsen, President of Kentucky Downs, stated, “We have been very happy with our first live meet working with Sportech and have been pleased with not only their technology and their service, but also with their cooperation and professionalism. Our on-track handle was up 48% and Sportech was an important part of that improved customer service. We look forward to continuing to work together to give our players a fantastic experience.”

Andrew Gaughan, President of Sportech Racing // Digital said, “We are happy to welcome both Ellis Park and Kentucky Downs to the Sportech family and to expand our operations footprint into the state of Kentucky. This year we have experienced tremendous growth in our overseas business, particularly in Europe and Asia, but we are steadfastly committed to strengthening our footprint in North America and to delivering innovative products and services that meet the high demands of that market.”

Sportech Racing and Digital Secures New Contract with Tote Ireland

Sportech Racing and Digital announces that, following a competitive bidding process, it has been awarded a new contract with Tote Ireland to strengthen and expand the suite of pari-mutuel betting technologies and services utilized by the twenty-six horse racing tracks in the Republic of Ireland.

Sportech has been the technology and service provider to Tote Ireland since 1999, with operations and support provided from one of Sportech’s key operational centers located in Athlone, Ireland. The new contract has an initial term of five years plus five one-year options.
Under the new contract, Sportech will provide an upgrade to Tote Ireland’s Quantum™ System – the world’s most widely deployed pari-mutuel betting system – to deliver even more features and functionality to Irish punters. Sportech will continue to provide hosting and enhanced system operations from its Global Quantum™ Data and Operations Center in the USA. Sportech will also continue to provide the daily maintenance, operations, and support of the tote equipment installed at Tote Ireland’s racetracks under a logistics, service, and maintenance agreement.

Tim Higgins, CEO of Tote Ireland, commented, “Tote Ireland have a long and productive business relationship with Sportech and with their Ireland-based team. We look forward to enhancing the services offered to our players and to achieving further operational efficiencies in both on-site logistics and system operations.”

Andrew Gaughan, President of Sportech Racing and Digital, stated: “It is very gratifying to know that after many years our partnership with Tote Ireland remains robust and fruitful and that our technologies and services continue to be embraced by Tote Ireland as the way forward in an ever-increasingly competitive marketplace.”

Departing Director Statement – Rich Roberts

The following information is provided in accordance with Section 430(2B) of the Companies Act 2006.

Rich Roberts’ resignation from the Sportech PLC Board was accepted on 14 July 2016.

He was subject to a twelve month contractual notice period and will receive a payment in lieu of such notice period. He will continue to work with the Company until 1 September 2016 for no additional remuneration in order to ensure a successful handover of his duties.

He will be eligible for a pro-rated bonus in respect of the 2016 financial year, dependent upon meeting certain performance criteria, payable at the same time as performance bonuses for 2016 are paid to active employees.

Long-term incentive awards granted in 2014 and 2015 will, to the extent the relevant performance criteria has been met and pro-rated for the proportion of the performance period served, vest at the normal vesting date. No award was granted in 2016.

Save as set out above, no payments for loss of office have been made to Rich Roberts.

Full details of the remuneration payments made to Rich will be set out in the 2016 Directors’ Remuneration Report.

Bump 50:50 Announces its First MLB Contract with San Diego Padres

Bump 50:50 announced that it has been selected to provide the technologies and services to conduct 50/50 charitable raffles by the Padres Foundation.

The Padres Foundation is Bump’s first contract with an MLB team-affiliated charity, however Bump has helped generate amazing 50/50 raffle results at baseball events before. Earlier this spring, Bump technology generated a two-game jackpot of $290,000 – a Quebec and MLB 50/50 raffle record – for the Montreal Canadiens Children’s Foundation, which hosted exhibition games featuring the Toronto Blue Jays.

The proven Bump 50:50 package includes point-of-sale software and hardware, a triple-redundant central system for real-time raffle processing, and services that include monitoring and immediate support. In addition, The Padres Foundation staff will benefit from Bump’s proven implementation and operations package, which has helped drive the success of 50/50 raffle programs for customers throughout North America.

Dan Tanenbaum, President of Bump 50:50, stated, “We are thrilled to welcome our first Major League Baseball team charity to Bump 50:50. The $290,000 two-game jackpot result at the Montreal MLB exhibition demonstrates just how effective the Bump 50:50 technology and support package can be and we’re excited to put them to work in San Diego to help support the charitable mission of the Padres.”