Papillon Holdings Papillon Holdings Plc : Statement Re Possible Acquisition And Suspension Of Listing
September 09 2016 - 8:32AM
UK Regulatory
TIDMPPHP
9 September 2016
PAPILLON HOLDINGS PLC
("Papillon" or the "Company")
Possible Acquisition
and
Suspension of Listing
The Directors of Papillon are pleased to inform shareholders that it has
signed non-binding Heads of Terms to acquire the entire issued share
capital of myclubbetting.com Limited, a specialised betting and gaming
related business, for new shares in the Company (the "Acquisition"). The
Acquisition, if completed, would result in Papillon shareholders having
a minority interest in the enlarged group (the "Group").
The Acquisition is subject, inter alia, to the completion of due
diligence, documentation and compliance with all regulatory requirements,
including the Listing and Prospectus Rules and, as required, the
Takeover Code.
The Acquisition, if it proceeds, will constitute a Reverse Takeover
under the Listing Rules since, inter alia, in substance it will result
in a fundamental change in the business of the issuer.
As the Acquisition will constitute a Reverse Takeover under the Listing
Rules, the listing in the Company's ordinary shares have been suspended
at the request of the Company pending the publication of a prospectus
and the application for the enlarged Company to have its Ordinary Shares
admitted to the Official List and to trading on the main market for
listed securities of the London Stock Exchange.
The Company is working on the preparation of a prospectus in relation to
the Acquisition and will, in due course, be making application for the
enlarged Company to have its Ordinary Shares admitted to the Official
List and to trading on the main market for listed securities of the
London Stock Exchange.
The Company will update shareholders as the matter progresses.
For more information:
Papillon Holdings plc www.papillonholdingsplc.com
Charles Tatnall, Director Tel: +44 (0) 20 8720 9323
or info@papillonholdingsplc.com
Alfred Henry Corporate Finance Ltd
Jon Isaacs Tel: 020 7309 2242
or jisaacs@alfredhenry.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Papillon Holdings PLC via Globenewswire
http://papillonholdingsplc.com/
(END) Dow Jones Newswires
September 09, 2016 08:32 ET (12:32 GMT)
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