Simian Global Plc Statement re Update on Acquisition and Suspension

 
TIDMSMG 
 
15 November 2017 
 
 
SIMIAN GLOBAL PLC 
 
("Simian" or the "Company") 
 
 
Update on Acquisition and Suspension of Listing 
 
 
 
In February 2017 we announced that we had 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"). 
 
We are pleased to announce that due diligence, documentation and compliance 
with all regulatory requirements, including the Listing and Prospectus Rules 
and, as required, the Takeover Code, are progressing well and the Directors 
remain positive about the transaction. 
 
As a result we have extended the exclusivity period with the Potential Target 
to 31 March 2018 but we hope that 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 will have occurred before then. 
 
 
In addition to the GBP200,000 paid to the Potential Target under a Deposit 
Agreement dated 17 February 2017 to be repaid on completion of the transaction 
or, if earlier upon either party withdrawing from the Transaction, your Board 
have resolved to lend the Potential Target a further GBP50,000 at a rate of 15% 
per annum, repayable on 31 March 2018, the date of the cessation of the 
exclusivity period. 
 
 
The Company will update shareholders further 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

November 15, 2017 11:12 ET (16:12 GMT)