Boston International Holdings PLC Proposed Acquisition and Suspension of Listing (5769O)
August 22 2017 - 2:31AM
UK Regulatory
TIDMBIH
RNS Number : 5769O
Boston International Holdings PLC
22 August 2017
22 August 2017
BOSTON INTERNATIONAL HOLDINGS PLC
("BIH" or "the Company")
Proposed Acquisition and Suspension of Listing
The Board of BIH is pleased to confirm that it intends to enter
into a non-binding letter of intent with Cornhill FX Holdings
Limited ("the Target"), a private limited company incorporated in
England and Wales, in connection with the potential purchase of the
entire issued share capital of that company. The proposed
transaction is in accordance with the Company's stated strategy to
acquire companies in the FX sector and is, inter alia, conditional
on the completion of legal and financial due diligence on the
Target.
If completed, the transaction would constitute a reverse
takeover under the Listing Rules. As the Company is currently
unable to provide full disclosure under Listing Rule 5.6 in
relation to the Target, it has requested from the UKLA a suspension
of its listing with immediate effect. Listing of the Company's
ordinary shares will remain suspended until such time as a
prospectus is published in relation to the proposed acquisition or
the Company announces that the discussions have been
terminated.
No binding agreement has been reached and, accordingly, the
directors of BIH cannot guarantee that the proposed transaction
will complete or provide any indication of a likely completion
date.
-ENDS-
BIH is a special purpose acquisition company ("SPAC") listed on
the standard segment of the official list, with shares traded on
the main market of the London Stock Exchange. BIH is seeking to
acquire a business operating in the foreign exchange ("FX") sector.
Following the acquisition, BIH intends to seek re-admission its
shares to the standard segment of the Official List.
Enquiries:
Yellow Jersey PR Limited (Financial PR)
Charles Goodwin / Joe Burgess
Tel: +44 20 3735 8825
Cornhill Capital Limited (Broker)
Nick Bealer
+44 20 3700 2500
This information is provided by RNS
The company news service from the London Stock Exchange
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