FAL Falcon

TIDMFAL

RNS Number : 0548F

Falcon Acquisitions Limited

25 July 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

For Immediate Release 25 July 2016

Falcon Acquisitions Limited

("Falcon" or the "Company")

Potential Acquisition and Suspension from Trading

Falcon Acquisitions, the LSE listed investment company focused on investments in the Over-The-Top services ("OTT") market, is pleased to announce that it has agreed terms with regards to the acquisition of Orbital Multi Media Holdings Corporation and its wholly owned subsidiary, Quiptel Hong Kong Limited. The proposed transaction is in accordance with the Company's stated strategy to acquire a business or businesses in the OTT sector, and is of such a size and nature as to constitute a reverse takeover under the Listing Rules. As such the Company has requested the UKLA suspend the Listing of its ordinary shares and in due course the Company intends to re-apply for admission to the Official List and the Main Market of the London Stock Exchange. Listing of the Company's ordinary shares will be suspended until such time as a prospectus is published in relation to the potential acquisition or the Company announces that the discussions have been terminated.

At this point the Company has entered into a conditional agreement to undertake an acquisition and there is no guarantee that any transaction will be completed. The Company published a prospectus on 13(th) January 2016, available at www.falconacquisitions.com, which included full details in relation to its investment strategy. The Company is not aware of any subsequent material changes to the information then published, other than those announced through the Regulatory News Service.

Gert Rieder, the Company's Executive Chairman, said: "We continue to consider acquisition opportunities in the rapidly growing OTT market, which is transforming the way we access media content. Our focus has been on securing a foundation investment that will enable us to build a scalable business through which we can generate significant returns for our shareholders. I am pleased to report that we have identified one situation in particular which we believe has the potential to generate considerable value, subject to the required conditions to complete the transaction being met. I look forward to making further announcements regarding the transaction in due course."

**ENDS**

For more information visit www.falconacquisitions.com or enquire to:

 
 Falcon Acquisitions Limited 
 Gert Rieder                     +41 79 83 83 119 
 St Brides Partners Ltd (PR) 
 Lottie Brocklehurst / Frank     +44 (0) 20 7236 
  Buhagiar/ Grace-Anne Marius     1177 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

SRSPGUUPMUPQGBP

(END) Dow Jones Newswires

July 25, 2016 02:45 ET (06:45 GMT)

Falcon (LSE:FAL)
Historical Stock Chart
From Mar 2024 to Apr 2024

Falcon (LSE:FAL)
Historical Stock Chart
From Apr 2023 to Apr 2024