Fastnet Equity PLC Potential Acquisition and Statement re Suspension (6703P)

TIDMFAST

RNS Number : 6703P

Fastnet Equity PLC

22 February 2016

Fastnet Equity plc

("Fastnet" or the "Company")

22 February 2016

Potential Acquisition and Statement re Suspension

On 28 August 2015, Fastnet shareholders voted to adopt an investing policy focussed on acquiring companies or businesses in the healthcare sector particularly those in the biopharma sector. The Company now announces that it is in very advanced discussions with Amryt Pharmaceuticals DAC (the "Acquisition"). If the Acquisition proceeds, the enlarged group will become a late stage, specialty biopharmaceutical company and will constitute a reverse takeover in accordance with Rule 14 of the AIM Rules for Companies and Rule 14 of the ESM Rules for Companies.

Accordingly, the Company has requested that its ordinary shares be suspended from trading on AIM and ESM, with immediate effect, pending either publication of an admission document containing detailed information on the Acquisition or the termination of the proposed Acquisition.

A further announcement will be made in due course.

Enquiries:

 
 Fastnet Oil & Gas plc             C/o FTI Consulting 
 Harry Stratford, Non-Executive 
  Director 
 
                                   +44 (0) 20 
 Shore Capital                      7408 4090 
 Nomad and Joint Broker 
 Bidhi Bhoma, Edward Mansfield 
 
 
                                   +353 (1) 679 
 Davy                               6363 
 ESM Adviser and Joint 
  Broker 
 John Frain, Anthony Farrell 
 
                                   +44 (0) 20 
 FTI Consulting                     3727 1000 
 Simon Conway 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 22, 2016 02:30 ET (07:30 GMT)