Papillon Holdings Papillon Holdings Plc : Statement Re Possible Acquisition And Suspension Of Listing

 
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: [phone] 
                                     or [e-mail] 
 
Alfred Henry Corporate Finance Ltd 
Jon Isaacs                          Tel: [phone] 
                                     or [e-mail] 
 
 
 
   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)

Copyright (c) 2016 Dow Jones & Company, Inc.