Simian Global Plc - Possible Acquisition and Suspension of Listing
February 17 2017 - 2:35AM
PR Newswire (US)
17 February
2017
SIMIAN GLOBAL PLC
( “Simian” or the “Company”)
Possible Acquisition
and
Suspension of Listing
The Directors of Simian are pleased to inform shareholders that it
has signed a non-binding letter of
intent ("LOI") to acquire the entire issued share capital of GVC
Holdings Limited, a limited liability
company in the media and advertising business incorporated in the
British Virgin Islands (the
“Potential Target”), for new shares in the Company (the
"Acquisition"). The Acquisition, if completed,
would result in Simian shareholders having a minority interest in
the enlarged group (the "Group"). For
the avoidance of doubt, the Potential Target is not affiliated with
GVC Holdings Plc, a company in the
online sports and gaming business incorporated in the Isle of Man
that trades on the London Stock
Exchange.
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 has been suspended at the Company’s
request 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:
Simian Global Plc |
www.simianglobal.com |
Edward Kwan-Mang Ng, Director |
Tel: +44 (0) 20 7866 2145
or info@simianglobal.com |
Alfred Henry Corporate Finance
Ltd |
|
Jon Isaacs |
Tel: +44 (0) 20 7309 2242
or jisaacs@alfredhenry.com |
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