REG - Fandango Hldgs Plc - Possible Acquisition and Suspension of Listing

Fandango HoldingsAnnouncement

25/05/2018 07:05

RNS Number : 2660P
Fandango Holdings PLC
25 May 2018
 


Fandango Holdings plc / Index: LSE / Epic: FHP / Sector: Investment
25 May 2018
 
FANDANGO HOLDINGS PLC ("Fandango" or the "Company")
Possible Acquisition and Suspension of Listing
 
The Directors of Fandango are pleased to inform shareholders that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of two limited liability companies, Corporate Commercial Collections Limited and Vatbridge Limited (together, the "Potential Targets") in exchange for the issue and allotment of 908,378,000 new ordinary shares in the Company, in addition to other consideration (the "Acquisition"). The Potential Targets operate in the factoring and finance service sector. The Acquisition, if completed, would result in Fandango shareholders having a minority interest in the enlarged group (the "Group").
 
The Acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules and, as required, the Takeover Code.   The Acquisition, 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.    As the Acquisition will constitute a Reverse Takeover under the Listing Rules, the Company has requested that the listing in the Company's ordinary shares be suspended pending the publication of a prospectus and the 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 is working on the preparation of a prospectus in relation to the Acquisition 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.fandangoholdingsplc.com or contact the following: 




Fandango Holdings plc




Charles Tatnall


Fandango Holdings plc


info@fandangoholdingsplc.com




Financial PR




Isabel de Salis
Juliet Earl
 


St Brides Partners Ltd


Tel: +44 (0) 20 7236 1177     




 




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
 
 
MSCLFFLIEEISFIT