Clarification

Papillon Holdings plc / Index: LSE / Epic: PPHP / Sector: Investment

24 May 2019

Papillon Holdings Plc ('Papillon' or 'the Company')

Clarification

Management of Papillon Holdings plc, the London listed investment company, seek to clarify the RNS dated 18 May 2018, which announced that:

"The Company has terminated its discussions with Phestor Limited, Greenway Activated Carbon Limited and Phestor Denmark as terms could not be agreed that were satisfactory to the Company. However, the Company retains a significant equity interest in these companies and remains a significant creditor of them and their principal James Thorpe."

It should be noted that the Company does not yet have an equity interest in these companies but believes that it is entitled to receive a significant equity interest in these companies. However, this equity interest will only mature following the successful outcome of litigation against the founder of those companies, Mr James Thorpe.

**ENDS**

For further information visit http://papillonholdingsplc.com or contact the following:

Charles Tatnall Papillon Holdings plc info@papillonholdingsplc.com

Isabel de Salis / Juliet Earl St Brides Partners Limited info@stbridespartners.co.uk

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).