Charilaou Bros Ltd. completed the acquisition of Mad Fun Entertainment Plc in a reverse merger transaction.
As of September 17, 2012, Board of Directors of Mad Fun Entertainment Plc approved the memorandum prepared by the Directors. The Board of Directors is authorized within the period of 6 months from the approval of the resolution to proceed with the issue and allocation of 180 million new ordinary shares of Mad Fun to the shareholders of Charilaou Bros Ltd, in order to acquire Charilaou Bros Ltd. The Extraordinary General Meeting is to take place on October 15, 2012.
Charilaou Bros Ltd. completed the acquisition of Mad Fun Entertainment Plc (CSE:XEN) in a reverse merger transaction on October 15, 2012. Charilaou Bros changed its name to Charilaou Group PLC. Transaction was approved by the shareholders of Mad Fun Entertainment.