Papillon Holdings PLC : Statement re acquisitio...

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	[e-mail]
Financial Adviser
Jon Isaacs	Alfred Henry Corporate Finance Limited	[e-mail] [phone]
Financial PR
Elisabeth Cowell / Grace-Anne Marius	St Brides Partners Limited	[e-mail] [phone]

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

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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