StockMarketWire.com - Sportech said overall trading remains in line with expectations despite the severe winter weather in the North East of the United States impacting the Venues business.

The group said it had successfully refinanced its bank debt on improved terms by entering a new £80m multi-currency, revolving credit facility with its existing lenders, the Royal Bank of Scotland, Barclays Bank and Bank of Scotland. The facility has a maturity date of 31 August 2018.

The appeal case relating to a £95m VAT repayment claim on the "Spot the Ball" game was heard by the Upper Tribunal on 29 April, 30 April and 2 May 2014.

"The Claim, which includes simple interest, was successfully determined in the Group's favour by the First-tier Tax Tribunal in March 2013. The Group has been advised to expect a decision from the Upper Tribunal by late summer this year and remains confident of a successful outcome," it said.




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