Potential Acquisition and Statement re Suspension

Fastnet Equity plc

("Fastnet" or the "Company")

 22 February 2016

Potential Acquisition and Statement re Suspension

On 28 August 2015, Fastnet shareholders voted to adopt an investing policy focussed on acquiring companies or businesses in the healthcare sector particularly those in the biopharma sector. The Company now announces that it is in very advanced discussions with Amryt Pharmaceuticals DAC (the "Acquisition"). If the Acquisition proceeds, the enlarged group will become a late stage, specialty biopharmaceutical company and will constitute a reverse takeover in accordance with Rule 14 of the AIM Rules for Companies and Rule 14 of the ESM Rules for Companies.

Accordingly, the Company has requested that its ordinary shares be suspended from trading on AIM and ESM, with immediate effect, pending either publication of an admission document containing detailed information on the Acquisition or the termination of the proposed Acquisition.

A further announcement will be made in due course.

Enquiries: