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Simian Global to Acquire BVI Media and Advertising Business GVC in Reverse Takeover.

M2 EQUITYBITES-February 21, 2017-Simian Global to Acquire BVI Media and Advertising Business GVC in Reverse Takeover


21 February 2017 - UK-based financial services provider Simian Global Plc (LSE: SMG) has signed a non-binding letter of intent to acquire the entire issued share capital of British Virgin Islands-based media and advertising business GVC Holdings Ltd. for new shares in Simian, the company said.

The acquisition, if completed, would result in Simian shareholders having a minority interest in the enlarged group.

For the avoidance of doubt, the Potential Target is not affiliated with GVC Holdings Plc, a company in the online sports and gaming business incorporated in the Isle of Man that trades on the London Stock Exchange.

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.

This acquisition, if it proceeds, will constitute a reverse takeover under the Listing Rules since, interalia, in substance it will result in a fundamental change in the business of the issuer.

Simian Global provides financial services. The company operates acquired business, strategy implementation, and working capital management services. Simian Global conducts its business in the United Kingdom.

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Publication:M2 EquityBites (EQB)
Date:Feb 21, 2017
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