Asimilar Group PLC Exercise of Warrants & Vesting of Warrants (8663T)
30 March 2021 - 3:32AM
UK Regulatory
TIDMASLR
RNS Number : 8663T
Asimilar Group PLC
29 March 2021
The information contained in this announcement is deemed by the
Company to constitute inside information as stipulated under the EU
Market Abuse Regulation (596/2014). Upon publication of the
announcement via a regulatory information service, this information
is considered to be in the public domain.
29 March 2021
ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')
Exercise of 2,531,250 Warrants, Issue of Equity and Total Voting
Rights
Vesting of Warrants
Asimilar Group plc (AIM: ASLR), the AIM quoted investment
company focused on technology opportunities in the fields of big
data, machine learning, telematics and the Internet of Things (IoT)
, hereby announces that the Company has received subscription
notices exercising warrants to subscribe for 2,531,250 new ordinary
shares in the Company at a subscription price of 30 pence per share
(the "New Shares").
Application will be made for the admission of the 2,531,250 New
Shares to trading on AIM and it is expected that dealings in the
New Shares will commence on or around 6 April 2021. On admission
the New Shares will rank pari passu in all respects with the
Company's existing ordinary shares.
Total Voting Rights
Following admission of the New Shares the total issued share
capital of the Company will consist of 113,121,443 Ordinary Shares,
each with voting rights. This number may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Vesting of Warrants
As previously announced, the Company's wholly owned subsidiary,
Intrinsic Capital Jersey Limited ("ICJL") has exercised its
subscriptions rights to acquire 70 million shares in Dev Clever
Holdings plc ("Dev Clever") at 10p per share ("Subscription
Rights"). ICJL had total Subscription Rights to acquire 100 million
shares in Dev Clever, and therefore it has exercised 70 per cent.
of the Subscription Rights. Under the terms of the acquisition
agreement for the purchase of ICJL, Mark Horrocks, a Director of
the Company, was issued warrants to subscribe of 9,000,000 Asimilar
ordinary shares at an exercise price of 0.01 pence per Asimilar
ordinary share in 2 tranches of up to 4,500,000 warrants per
tranche. Each tranche is exercisable for two years after the
relevant price criteria having been reached. The relevant price
criteria are the mid-market closing price of shares in Dev Clever
for a period of five consecutive Business Days being or exceeding
(i) 28 pence; and (ii) 55 pence respectively.
The mid-market closing price of shares in Dev Clever has now
exceeded 28 pence for a period of five consecutive Business Days.
Therefore 70 per cent of the first tranche of 4,500,000 warrants
(equating to 3,150,000 warrants) issued to Mark Horrocks has now
vested. The 3,150,000 warrants are exercisable at 0.01 pence per
Asimilar ordinary share until 29 March 2023.
-Ends-
Contacts
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCJLMFTMTJTBMB
(END) Dow Jones Newswires
March 29, 2021 12:32 ET (16:32 GMT)
Asimilar (LSE:ASLR)
Historical Stock Chart
From Apr 2024 to May 2024
Asimilar (LSE:ASLR)
Historical Stock Chart
From May 2023 to May 2024