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Premarket London: Playtech Warning; LandSec Hires St Modwen CEO

Investing.com -- Here is a summary of regulatory releases from the London Stock Exchange on Friday, 22nd November. Please refresh for updates.

Land Securities (LON:LAND) said it has appointed Mark Allan to be its new chief executive officer. Allan is currently CEO of FTSE 250 member St. Modwen Properties (LON:SMP) Plc, a role he has held since 1 November 2016. TSt Modwen shares have risen over 50% during his tenure.

Allan will make the move at the end of May.


Online estate agent Rightmove (LON:RMV) said meanwhile that it has appointed former Shazam CEO and chairman Andrew Fisher as its new chairman. He'll succeed Scott Forbes at the end of this year.


Software group Playtech (LON:PTEC), which sells its services mainly to the gambling and spread betting industries, warned that full-year earnings are likely to be below consensus due to “highly challenging” conditions for its TradeTech unit and cut-throat competition in Asia.

The company said it’s “evaluating all options” for TradeTech and is also reviewing the Casual and Social Gaming business.

Playtech (LON:PTEC) said it now expects full-year EBITDA to be “a little below current consensus”, as its problems with TradeTech have been partly offset by a continued strong performance from the B2B Gambling and Snaitech units.

Revenue from Asia, where it has tried to expand market share in recent months is seen at 115 million a year at current run rates. It said market conditions are “highly competitive”.

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