AMRAC acquires broadcast rights for three additional UK tracks
Timeweave is pleased to announce that AMRAC, its joint venture company, has signed exclusive media rights agreements for three additional UK horse racing tracks.
News Items
Turf TV renews long-term contract with William Hill
Timeweave is pleased to announce that William Hill Organization Limited ('William Hill') has become the first customer to renew a long-term contract with Amalgamated Racing Ltd ('AMRAC'), Timeweave's joint venture company and owner of television channel Turf TV.
The early renewal of the long-term contract will allow William Hill to provide Turf TV's exclusive 'through-the-card' live coverage of every horse race meeting from 31 of the 59 British racecourses in all of William Hill's 2,370 betting shops.
Improved Performance for first 6 months
Interim Results for the six months ended 30th June 2011
Timeweave plc ('Timeweave' or 'the Group') is the holding company of a Group which principally comprises a 50% holding in Amalgamated Racing Limited ('AMRAC'), sports hedging business SportingWins and cash deposits.
Acquisition of SportingWins
Timeweave plc acquires the business and assets of SportingWins Limited
The Board of Timeweave plc is pleased to announce the acquisition of the SportingWins Business.
SportingWins Limited writes financial contracts, "hedging agreements", to cover financial risks of corporate clients which are dependent on the results of professional sports events. Since inception in October 2006, the SportingWins Business has signed contracts with over 40 clients across 15 countries covering more than £100m of risk.
Board Appointment
The Board is pleased to announce that David Craven joined the Company as Chief Executive Officer on 18 April 2011. David has extensive Betting and Gaming experience having held a number of senior roles. He was a joint MD of the Tote for six years and held senior executive roles at UK Betting Plc and Wembley Plc.
Disposal of Alphameric Solutions Limited
The Board of Alphameric plc (the "Company") announces that yesterday, 31 May 2010, the Company completed the disposal of Alphameric Solutions Limited ("ASL") to Orbis Holdings ("the Disposal"). The Disposal was previously announced on 7 May 2010 and approved by shareholders at the general meeting of the Company on 25 May 2010.
Board Appointment
The board is pleased to announce that Richard McGuire will join the board of Alphameric as a non-executive director acting as the nominated shareholder representative of Mayfair Capital Investments Ltd (an investment vehicle of Joe Lewis). Mayfair Capital Investments Ltd owns 67,600,569 shares in the Company, representing 29.99% of the voting rights.
Result of General Meeting
Further to the announcement made on 7 May 2010, the Board of Alphameric is pleased to announce that the resolutions to approve the disposal of Alphameric Solutions Limited, Delisting and Admission to AIM, as detailed in the circular to shareholders dated 7 May 2010 were duly passed at the General Meeting held at 10.00 a.m. today.
Accordingly, the final day of dealings on the Official List of the UK Listing Authority is expected to be 23 June 2010 and the first day of trading on AIM is expected to be 24 June 2010.
