Simian Global Plc Possible Acquisition and Suspension of Listing

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

(END) Dow Jones Newswires

February 17, 2017 02:35 ET (07:35 GMT)