Papillon agrees reverse takeover of myclubbetting.com
Source - SMW
Papillon has signed non-binding heads of terms to acquire myclubbetting.com Limited, a specialised betting and gaming related business, for new shares in the company.
The acquisition, if completed, would result in Papillon shareholders having a minority interest in the enlarged group.
The acquisition is subject to the completion of due diligence, documentation and compliance with all regulatory requirements.
The acquisition, if it proceeds, will constitute a reverse takeover and will result in a fundamental change in the business of the issuer.
As the acquisition will constitute a reverse takeover, trading in the company's ordinary shares has been suspended.
At 1:45pm: (LON:PPHP) Papillon Holdings Plc Ord Gbp0.001 share price was +0.05p at 1.45p