Papillon Holdings PLC Change of Adviser and Company Update (5695X)
April 30 2019 - 6:00AM
UK Regulatory
TIDMPPHP
RNS Number : 5695X
Papillon Holdings PLC
30 April 2019
Papillon Holdings plc / Index: LSE / Epic: PPHP / Sector:
Investment
30 April 2019
Papillon Holdings Plc ('Papillon' or 'the Company')
Appointment of New Adviser & Completion of GBP500k
Fundraise
Papillon Holdings plc, the London listed investment company, is
pleased to announce that it has appointed Novum Securities
('Novum') as sole broker and Financial Adviser with immediate
effect.
Additionally, further to the announcement dated 21 December
2018, Novum has committed to invest GBP300k in the Company; this
completes the GBP500k fundraise via the issue of convertible loan
notes in the Company. The proceeds, which will be drawn down as
required, are to be utilised for general corporate purposes as well
as being lent to the Company's initial investment, Pace Cloud Ltd
('Pace Cloud').
Pace Cloud's underlying business, CarCloud Community
(www.carcloudcommunity.co.uk), a fintech company focused on the
used car market, continues to perform robustly. The Company looks
forward to updating the market in regard to its proposed initial
investment of a 50% interest in Pace Cloud in due course.
Papillon is continuing its dialog with submissions to UKLA to
allow for finalisation of a Re-Admission Prospectus and will update
the market on the process in due course.
**ENDS**
For further information visit www.papillonholdingsplc.com or
contact the following:
Charles Tatnall Papillon Holdings ctatnall@btinternet.com
plc 07930 445 691
Novum Securities
Colin Rowbury Limited +44 (0) 20 7399 9427
Isabel de Salis / St Brides Partners info@stbridespartners.co.uk
Cosima Akerman 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).
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END
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