Papillon Holdings PLC Clarification (0761P)
May 23 2018 - 9:30AM
UK Regulatory
TIDMPPHP
RNS Number : 0761P
Papillon Holdings PLC
23 May 2018
Papillon Holdings plc / Index: LSE / Epic: PPHP / Sector:
Investment
23 May 2018
Papillon Holdings Plc ('Papillon' or 'the Company')
Clarification
Management of Papillon Holdings plc, the London listed
investment company, seek to clarify the RNS dated 18 May 2018,
which announced that it had signed a non-binding Heads of Terms to
make an investment for 50% of the issued share capital of a fintech
company focused on the used car market, CarCloud Limited (the
'Investment').
The Investment, 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.
On account of the proposed transaction, the Company will not be
seeking the lifting of the current suspension of listing of its
shares as the contemplated transaction will constitute a change of
business of the Company. The Company is working on the preparation
of a prospectus in relation to the Investment 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.
**ENDS**
For further information visit www.papillonholdingsplc.com or
contact the following:
Charles Tatnall Papillon Holdings info@papillonholdingsplc.com
plc
Isabel de Salis St Brides Partners info@stbridespartners.co.uk
/ Juliet Earl Limited +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 information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCAJMITMBBTBRP
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