Papillon Holdings Papillon Holdings Plc : Statement Re Acquisition Update

 
TIDMPPHP 
 
 
   20 December 2016 
 
   Papillon Holdings Plc ('Papillon' or 'the Company') 
 
   Acquisition Update 
 
 
 
   Papillon, the standard listed investment company, is pleased to announce 
that further to the RNS of 9 September 2016, it has executed a formal 
Sale and Purchase agreement ('SPA') with the Directors and principal 
shareholders of Myclubbetting Ltd ('Myclubbetting') ('the Acquisition'), 
a specialised betting and gaming related company. 
 
   The SPA contains certain provisions regarding the completion and 
positive conclusion of due diligence by the Directors and its advisers 
on the Acquisition.  Upon satisfaction of the foregoing, shareholders 
will be informed of the formal terms of the agreement, which will 
constitute a Reverse Takeover ('RTO') under the Listing rules since, 
inter alia, in substance it will result in a fundamental change in the 
business of the issuer. 
 
   The Company will update shareholders with further details in due course. 
 
   **ENDS** 
 
   For further information visit www.papillonholdingsplc.com or contact the 
following: 
 
 
 
 
Charles Tatnall      Papillon Holdings plc        [e-mail] 
 
  Financial Adviser 
Jon Isaacs           Alfred Henry Corporate       [e-mail] 
                     Finance Limited               [phone] 
Financial PR 
Elisabeth Cowell /   St Brides Partners Limited   [e-mail] 
 Grace-Anne Marius                                 [phone] 
 
 
   This announcement contains inside information for the purposes of 
Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR). 
 
   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

December 20, 2016 02:00 ET (07:00 GMT)

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