Papillon Holdings Papillon Holdings Plc : Statement Re Acquisition Update
20 December 2016 - 6:00PM
UK Regulatory
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 info@papillonholdingsplc.com
Financial Adviser
Jon Isaacs Alfred Henry Corporate jisaacs@alfredhenry.com
Finance Limited +44 (0) 20 7309 2242
Financial PR
Elisabeth Cowell / St Brides Partners Limited info@stbridespartners.co.uk
Grace-Anne Marius +44 (0) 20 7236 1177
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)
Copyright (c) 2016 Dow Jones & Company, Inc.
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