Update on Proposed Acquisition

RNS Number : 2399C

Boston International Holdings PLC

18 January 2018

 

18 January 2018

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or "the Company")

Update on Proposed Acquisition

Further to the announcement of 22 August 2017, the Board of BIH is pleased to confirm that due diligence in respect of the proposed acquisition of the entire issued share capital of Cornhill FX Holdings Limited ("CFXH") is now at an advanced stage.  The directors are optimistic that the acquisition will conclude by early Q2 of 2018 however this is subject to reaching a binding agreement with the shareholders of CFXH and  approval by the UKLA of re-admission to the main market of the London Stock Exchange.  Accordingly, the directors of BIH cannot guarantee that the proposed transaction will complete or provide any indication of a likely completion date and will update the market as matters progress.

The Company's ordinary shares remain suspended until such time as a prospectus is published in relation to the proposed acquisition or the Company announces that the discussions have been terminated.

ENDS

BIH is a special purpose acquisition company ("SPAC") listed on the standard segment of the official list, with shares traded on the main market of the London Stock Exchange. BIH is seeking to acquire a business operating in the foreign exchange ("FX") sector. Following the acquisition, BIH intends to seek re-admission its shares to the standard segment of the Official List.

Enquiries:

Cairn Financial Advisers LLP

Jo Turner / David Coffman

Tel: [phone]

Cornhill Capital Limited (Broker)

Nick Bealer

[phone]

 

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