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Betsson makes recommended cash offer to acquire UK operator NetPlay TV

K operator NetPlay TV

Betsson AB and NetPlay TV plc (“NetPlay”) have reached an agreement on the
terms of a recommended public cash offer pursuant to which Betsson will acquire
all shares of NetPlay, a company listed on the AIM market of the London Stock

The acquisition will strengthen Betsson’s position in the UK, which is the
largest locally regulated gambling market in the world. NetPlay operates three
brands, Jackpot247, Supercasino and Vernons, using mainly third party systems
for backend and content.

“NetPlay operates three brands, each with strong offerings, and we believe that
applying Betsson’s experience of operating successful casino brands will add to
NetPlay’s earnings and growth. We have a long-term view on NetPlay and will
achieve significant cost synergies and operational improvements over time.
Betsson’s acquisition strategy includes adding volume to its scalable Techsson
platform and increasing the share of locally regulated revenue,” said Ulrik
Bengtsson, CEO and President of Betsson AB.

The offer is to be implemented by means of a court approved scheme of
arrangement which will be regulated by the UK Companies Act and the UK Takeover
Code. The cash offer is GBP 0.09 per share, corresponding to a total
consideration of GBP 26.4 million (on a fully diluted basis). The offer is
subject to, amongst other things, the approval of NetPlay shareholders and also
the High Court of Justice in the UK and is expected to be closed in April 2017.

NetPlay is listed on the AIM market of the London Stock Exchange. For the six
months ending 30 June 2016, NetPlay reported net revenue of GBP 14.7 million
and adjusted EBITDA of GBP 1.7 million. Cash and cash equivalents, net of
client balances, amounted to GBP 7.5 million at 30 June 2016.

The NetPlay Board also made the following trading update today:
“The Company followed a strong H1 with a satisfactory performance in H2 2016.
The Group’s B2B division performed well in its first full calendar year since
it was acquired, however this was offset by a slightly disappointing revenue
performance from the B2C division due to a decline in net revenue margin (the
percentage ratio between customer stakes and the associated net revenue).

Looking forward to 2017, the Company has made a good start to the year,
although the NetPlay Board remains mindful of the ongoing competitive
environment and various challenges which will need to be addressed going
forward, such as the UK’s tax on free bets legislation.”

Prior to announcing the offer, Betsson obtained signed statements of support
from the top two shareholders of NetPlay, Directforce Trading Limited and
Henderson Global Investors, and also from the Directors of NetPlay. The
holdings of these shareholders represent, in aggregate, 39.25% of NetPlay’s
issued share capital.

Further details on the offer can be found in the separate joint announcement by
Betsson and NetPlay issued today pursuant to Rule 2.7 of the UK Takeover Code
and which, subject to compliance with applicable restrictions, is available to
view on Betsson’s website.

About NetPlay
NetPlay is an interactive gambling company that provides Casino, Bingo and
Sportsbook services to consumers in the UK under its UK gaming licence. NetPlay
offers its B2C services through the Supercasino, Jackpot247 and Vernons brands.
Additionally, the NetPlay Group also operates a B2B division which is a
specialist online digital marketing, product development and technology
business which was acquired in August 2015.

NetPlay’s B2C services have over 65,000 active depositing players (H1 2016) and
can be viewed 24 hours a day live online and every night on Channel 5 and ITV.
The NetPlay Group is focused on the delivery of an integrated online gaming
experience through a variety of platforms (TV, internet and mobile) and from a
common cross-product wallet.

For further information, please contact:

Ulrik Bengtsson, CEO and President Betsson AB
+46 (0)8 506 403 00

Pia Rosin, VP Corporate Communication Betsson AB
+46 (0)73 600 85 00,

This information is information that Betsson AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact persons set out above, at 8:00
CET on February 2nd 2017.

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