TIDMSTVG

RNS Number : 8111J

STV Group PLC

26 August 2021

 
                                   STV Group plc 
            Completion of the divestment of STV external lottery company 
                                   26 August 2021 
                             LEI: 21380075GOOTTBDNDJ58 
 
             STV Group plc today announces completion of the divestment 
             of its external lottery management company (ELM). 
             This comes after the announcement in March 2021 that an agreement 
             in principle for the sale of the business had been reached, 
             subject to approval from the UK Gambling Commission. This 
             approval has now been granted. 
             The decision to divest followed a comprehensive review of 
             the business which concluded that lottery operations were 
             not core to the future growth prospects of the Group, and 
             so the sale will enable the Group to focus exclusively on 
             the ongoing delivery of STV's strategic growth plan. The 
             transaction combines a modest consideration for the business 
             with a multi-year advertising contract. 
             A full trading update will be provided to shareholders and 
             the market on Thursday 9 September 2021 when the Group's 
             half-year financial results will be announced. 
  Enquiries: 
   STV Group plc 
   Kirstin Stevenson, Head of Communications Tel: 07803 970106 
   Camarco 
   Geoffrey Pelham-Lane, Partner Tel: 07733 124226 
   Ben Woodford, Partner Tel: 07790 653341

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August 26, 2021 02:00 ET (06:00 GMT)

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