Fandango Holdings plc / Index: LSE / Epic: FHP / Sector: Investment

22 June 2023

Fandango Holdings plc ('Fandango' or 'the Company')

Heads of Terms Signed

Fandango Holdings plc is pleased to report that it has executed non-binding Heads of Terms ('HoT') to acquire European Battery Metals Pty Ltd ('the Acquisition').  

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's ordinary shares shall remain 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.

Further details will be provided upon execution of a formal sales and purchase agreement. 

The previously contemplated and announced transaction to acquire Radair Limited has been terminated with immediate effect.

ENDS

For further information visit www.fandangoholdingsplc.com or contact: