All Active Asset Capital Limited Statement re Announcement by Asimilar (0721X)
25 August 2020 - 4:57PM
UK Regulatory
TIDMAAA
RNS Number : 0721X
All Active Asset Capital Limited
25 August 2020
25 August 2020
All Active Asset Capital Limited
('AAAC')
Statement re Announcement by Asimilar
The Board of AAAC notes that Asimilar Group plc ("Asimilar") has
today made an announcement ("the Asimilar Announcement"). This is
reproduced below. AAAC's current investment portfolio includes
equity, warrants and options over warrants in Asimilar. A summary
of AAAC's interests in Asimilar is provided in AAAC's announcement
of 26 June 2020.
The text of the Asimilar Announcement is as follows:
Asimilar Group plc
('Asimilar' or the 'Company')
Completion of Agreement with MESH Holdings plc
Lifting of Suspension
Further to its announcement on 20 August 2020, Asimilar Group
plc (AIM: ASLR), the AIM quoted investing company focused on
technology opportunities in the fields of big data, machine
learning, telematics and the Internet of Things (IoT), is pleased
to announce that the assignment to MESH Holdings Plc ("MESH") of
the Company's interest and rights to invest in Sentiance NV
("Sentiance") has now completed. Accordingly Asimilar has now
terminated its negotiations with Sentiance in relation to the
proposals announced on 4 and 12 March 2020, and the Company has
requested that the suspension of trading in the Company's shares on
AIM be lifted at 7.30 a.m. today.
As part of the negotiations regarding the proposed investment in
Sentiance, the Company transferred EUR6 million to a notarial
escrow account, to be returned to the Company if the investment did
not proceed. The Company agreed that EUR3 million of the escrow
monies could be advanced to Sentiance by means of a loan with
interest accruing at 3% per annum. The Company has now received
EUR3 million of the escrow monies and expects that the remaining
EUR3 million will be returned to the Company in September 2020.
MESH has today issued to Asimilar 24 million new ordinary shares
in MESH credited as fully paid. MESH currently has 246,090,166
ordinary shares in issue. Therefore, Asimilar now holds
approximately 8.89% of the enlarged issued share capital of
MESH.
MESH currently owns 16,333 shares in Sentiance equating to 16.8
per cent of Sentiance's current issued share capital. MESH also
owns the intellectual property of Billion Dollar Draw and has
engaged and funded Sentiance to develop a "Consumer-to-Brand"
intelligence and recommendation platform called Aaquita. MESH's
audited net assets as at 30 September 2019 were GBP16.6
million.
For further information:
All Active Asset Capital Limited
James Normand, Non-Executive Chairman
Rodger Sargent, Executive Director
T: +44 (0) 7779 799431
www.aaacap.com
Allenby Capital Limited (Nominated Adviser and Broker)
Alex Brearley / Nick Athanas
T: +44 (0) 203 328 5656
www.allenbycapital.com
Buchanan (Financial PR)
Richard Oldworth / Chris Lane / Toto Berger
T: +44 (0) 207 466 5000
E: AAAC@buchanan.uk.com
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END
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