Asimilar Group Plc

Share Issue/Capital Change • Mar 12, 2020

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9826F

Asimilar Group PLC

12 March 2020

12 March 2020

Asimilar Group plc

("Asimilar" or the "Company")

Further re Placing announced 8 January 2020

Asimilar Group plc, the AIM quoted investment company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT), announces that, due to the continued suspension of trading in the Company's shares and further to the announcement made by the Company on 8 January 2020, it has agreed with the participants in Tranche 2 of the placing ("T2 Placees") that they will surrender their subscription rights in the Company.

Together the T2 Placees had agreed to subscribe for 7,000,000 Ordinary Shares in the Company at a price of 40 pence per Ordinary Share for a total consideration of £2.8 million, payable on admission of such shares to trading on AIM, which was expected to occur on or around 13 March 2020. 

In addition the T2 Placees were to be issued a warrant for every Ordinary Share subscribed, exercisable at 130 pence per Ordinary Share from the date of issue up to 31 December 2021 with an accelerated exercise provision in the event that the mid-market price for Asimilar's Ordinary Shares reached 280 pence per Ordinary Share for 5 consecutive business days ("Placing Warrants").  These Placing Warrants will no longer be issued.

In consideration for the surrender of their rights in conjunction with today's £7.5 million conditional placing at 60 pence per Ordinary Share, the Company has agreed to issue to the T2 Placees 3,500,000 new warrants exercisable at 60 pence per ordinary share which may be exercised at any time until 31 December 2020 on the basis of one New Warrant for every two subscription rights surrendered.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

**ENDS**

Enquiries

Asimilar Group plc
John Taylor, Non-Executive Chairman	via Buchanan
Cairn Financial Advisers LLP
Sandy Jamieson, Liam Murray	Tel: +44 20 7213 0880
Peterhouse Capital Limited
Duncan Vasey / Lucy Williams	Tel: + 44 20 7220 9797
Buchanan Communications Limited
Richard Oldworth / Chris Lane	Tel: +44 (0) 20 7466 5000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

FURFLFLRVSIFLII