Simian Global intends to acquire GVC Holdings Ltd

Simian Global has signed a non-binding letter of intent to acquire GVC Holdings Ltd, which is incorporated in the British Virgin Islands, in an all-share deal.

GVC Holdings Ltd -- an unrelated and separate entity to London-listed GVC Holdings Plc -- is a media and advertising business.

The reverse takeover, if completed and subject to due diligence and other criteria, would see Simian shareholders having a minority interest in the enlarged group.

At 12:57 GMT, shares in Simian Global were trading at 17.5p each.