TIDMASLR
RNS Number : 0370H
Asimilar Group PLC
04 April 2022
Rule 6.2 announcement
THIS ANNOUNCEMENT TOGETHER WITH ANY DOCUMENTS INCORPORATED BY
REFERENCE SHALL BE DEEMED TO CONSTITUTE AN ADMISSION DOCUMENT FOR
THE PURPOSES OF THE AQSE GROWTH MARKET ACCESS RULEBOOK. IT HAS NOT
BEEN APPROVED OR REVIEWED BY THE AQUIS STOCK EXCHANGE OR THE
FINANCIAL CONDUCT AUTHORITY.
Date: 4 April 2022
Asimilar Group Plc ("Asimilar" or the "Company")
Admission to the Access Segment of the AQSE Growth Market
Asimilar, the investing company focused on technology
opportunities in the fields of Big Data, Machine Learning,
Telematics and the Internet of Things, is pleased to announce that
trading of its ordinary shares will commence at 8.00am today on the
Access Segment of the AQSE Growth Market under its existing ISIN
"GB00BFX2VL54". The Company's shares are also admitted to trading
on AIM (LSE: ASLR).
The Board believes in the opportunities offered by the AQSE
Growth Market to improve liquidity in nascent companies and in the
investment companies that invest in them. It also provides greater
optionality to the Board going forward, should the Company decide
to cancel the admission of its shares to trading on AIM, in terms
of reducing operating costs and taking advantage of a market regime
which may be more fitting to an investment company - reducing the
risk that investment opportunities are missed and shareholders'
interests thereby affected. The Company's shares will continue to
trade on AIM and the Board will continue to assess the dual-listing
structure. Any proposal to cancel the admission to AIM would be
subject to shareholder approval.
About Asimilar
Asimilar invests in the technology and software sectors and aims
to focus primarily on opportunities in the Big Data, Machine
Learning, Telematics and Internet of Things areas. Whilst the
Directors are principally focused on making investments in private
businesses, they do not rule out investments in listed businesses
if this presents, in their judgment, the best opportunity for
Shareholders.
The Company intends to be an active investor in situations where
the Company can make a clear contribution to the progress and
development of the investment. In respect of other more substantial
investment opportunities, the Directors expect the Company to be
more of a passive investor.
Total Voting Rights and exercise of warrants
The Company's current total issued share capital consists of
121,923,943 ordinary shares of 0.01p each.
The Company announced on 31 March 2022 that it had received a
subscription notice exercising warrants to subscribe for 333,333
new ordinary shares in the Company at a subscription price of 5
pence per share (the "New Shares"). Application has been made for
the admission of the 333,333 New Shares to trading on AIM and AQSE
and it is expected that dealings in the New Shares will commence on
or around 5 April 2022. On admission the New Shares will rank pari
passu in all respects with the Company's existing ordinary
shares.
Following admission of the New Shares the total issued share
capital of the Company will consist of 122,257,276 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.
Board and management team
John Taylor, Non-Executive Chairman
John's most recent focus has been on assisting small cap listed
companies with their development. Prior to this, he spent 18 months
working in private equity backed portfolio companies, driving
operational turnaround initiatives and implementing costing
systems. He spent over 20 years in the Army Air Corps, leaving in
2015 with the rank of Lieutenant Colonel. Between 2013 and 2015 he
was senior strategic communications officer for the Ministry of
Defence. John is a non-executive director of BrandShield Systems
Plc, an AIM quoted cyber security company. He is also a director of
two investing companies listed on AQSE, Quetzal Capital Plc and
IAMFIRE Plc, and a director of TECC Capital Plc, a SPAC also listed
on AQSE. Previously he was a non-executive director of Sabien
Technology Group plc, an AIM-quoted provider of energy reduction
technologies and a director of KIN Group Plc which became Bidstack
plc following a reverse takeover transaction. He was also a
director of Pathfinder Minerals Plc up to March 2021.
Sohail Bhatti, Finance Director
Sohail is a Fellow of The Association of Chartered Certified
Accountants (FCCA), and has served as finance and non-executive
director of a number of private and quoted companies for more than
20 years. In 1998, he joined Transcomm plc, an AIM quoted
telecommunications group as finance director for one of its
subsidiary undertakings and served for 6 years until its
acquisition by British Telecom in 2004. Later that year he
supported the private equity acquisition of a former Ericsson data
radio technology company, and founded Woodhouse Price Limited, a
licensed accountancy practice.
Mark Horrocks, Non-Executive Director
Mark has over 37 years' experience in financial markets and has
been involved mainly in large scale institutional fund management.
He has worked as a research analyst and fund manager for a FTSE100
insurance group. In addition, he has always maintained a keen
interest in supporting smaller companies and identifying nascent
opportunities as investor and supporting as mentor and, on
occasion, board member. In 1997 Mark co-founded Intrinsic Capital
Partnership Limited, in order to self-manage the Intrinsic Value
PLC Investment Trust, an investor in mainly small/micro capitalized
quoted companies. Mark then established Intrinsic Capital LLP in
2007 as a regulated corporate and introductory business and
extended the regulatory permission to include a retail investment
management offering in 2015 seeking to add value with a
straightforward, transparent and cost-efficient service to high net
worth and professional investors.
Michael Preen, Non-Executive Director
Michael is a qualified solicitor with over 25 years' experience
in the provision of legal, corporate and governance advisory
services. He qualified and spent 6 years in the market-leading
investment funds team at Norton Rose (now Norton Rose Fulbright), a
major international law firm, before becoming a vice-president in
the corporate advisory division at Dresdner Kleinwort Wasserstein,
a European investment bank. Following two years in Australia as a
senior associate specialising in real estate investment funds with
Mallesons Stephen Jaques (now King & Wood Mallesons), a leading
law firm in the region, he returned to the UK and joined
Development Capital Management, a global real estate fund
management group, where he held a number of senior management roles
and was instrumental in establishing its FCA regulated securities
division. From 2009 to 2014 he held the position of Head of
Corporate and Legal Affairs at Hydrodec Group plc, an AIM listed
clean tech oil company, before establishing his own corporate and
governance consultancy business where he provides advisory services
to the boards of various public and private companies, focussing on
small cap technology clients.
Investment portfolio
Details of the Company's investment portfolio can be found on
the Company's website (in announcements and in annual and interim
reports) and in the Company's 2021 Annual Report which was
published on 21 March 2022. Below are a number of Asimilar's
existing portfolio companies:
Dev Clever Holdings Plc ("DevClever")
Dev Clever is a software and technology group based in Tamworth,
United Kingdom, specialising in the use of lightweight integrations
of cloud-based gamification and VR technologies to deliver rich
customer engagement experiences across both the commercial and
education sectors. In January 2019, Dev Clever listed on the
Standard List of the London Stock Exchange.
All Active Asset Capital Limited ("AAA")
AAA is a technology investing company, previously listed on AIM,
which has built up a portfolio of investments. It is pursuing a
strategy of investing in opportunities within the global
technology, software and Artificial Intelligence space, seeking to
expose investors to a portfolio of potential future market leaders.
It has announced its intention to re-list on a recognised
international exchange and, ahead of that, to enable a 'grey
market' trading facility in its shares. AAA's main investment
holdings are in AAQUA and Sentience.
AAQUA is a new social and community platform, centred around
passions, connecting like-minded people, fans, icons, creators and
brands through a federated network of passion communities. AAQUA's
plan is to reshape the social media experience along more positive
and inclusive lines by empowering peer-level communities,
celebrating authentic and purposeful connections, and unleashing
the power of co-creation.
Sentiance is a Belgian intelligence-driven data science and
behaviour change company. Sentiance's technology is designed to
turn motion data into contextual insights and uses behavioural
change techniques to personalise engagement for safer and
sustainable mobility and well-being experiences.
Magic Media Works Ltd ("Magic Media")
Magic Media is a music entertainment technology business. The
company's mission is to bring families together through shared
music entertainment experiences, making every home a connected
home. ROXi, which was launched by Magic Media in 2017, is the
world's first 'made for TV' music entertainment product, delivering
music entertainment experiences that allow consumers to listen,
sing, dance and play together at home. ROXi is backed by celebrity
curators Kylie Minogue, Robbie Williams and Sheryl Crow and
delivers its unique interactive experience through the stylish ROXi
Console as well as through major Smart TV and Pay TV platforms,
including Sky.
AudioBoom Group plc ("Audioboom")
Audioboom is a global leader in podcasting - its shows are
downloaded more than 116 million times each month by 32 million
unique listeners around the world. Audioboom is ranked as the
fourth largest podcast publisher in the US by Triton Digital.
Audioboom's ad-tech and monetisation platform underpins a scalable
content business that provides commercial services for a premium
network of 250 top tier podcasts. Its shares are listed on AIM.
Simplestream Limited ("Simplestream")
Simplestream is an award winning provider of best in class, next
generation TV solutions to some of the biggest players in the
broadcast, sports and media industry. Clients include A&E
Networks, AMC Networks, Channel 4, Nova TV Sony Traceplay, QVC TV,
Box Nation, Little Dot Studios and At The Races amongst others. New
customers taken on during the 2021 were GB News, Digital Theatre
and Craftsy. The company delivered the Paralympic Games on Channel
4's website and over its OTT platform.
Gfinity plc ("Gfinity")
Gfinity is a world-leading esports solutions provider. It
focuses on designing, developing and delivering esports solutions
for e-games publishers, rights holders and brands. It has contracts
and partnership arrangements with EA Games, Microsoft, FIFA,
Formula 1 and Indycar. Its shares are listed on AIM.
SeeQuestor Limited ("SeeQuestor")
SeeQuestor brings together leaders in cyber security and
computer vision to deliver an Artificial Intelligence ("AI") tool
to comb through some of the estimated 1.5 trillion hours of CCTV
footage produced per year, harnessing what the Directors believe to
be world leading AI technology and affordable supercomputing to
turn terabytes of video into actionable intelligence.
Information pursuant to AQSE Access Rule 6.2
General
Further information is available on the Company's website
www.asimilargroup.com
There is no provision of the Company's articles of association
that would have an effect of delaying or preventing a change in
control of the Company.
Corporate Adviser Agreement
An AQSE Corporate Adviser Agreement has been entered into
between the Company and Oberon Capital (a trading name of Oberon
Investments Limited), pursuant to which the Company has appointed
Oberon Capital to act as Corporate Adviser and broker to the
Company on an on-going basis following Admission. The agreement
contains certain undertakings and indemnities given by the Company
in respect of, inter alia, compliance with all applicable laws and
regulations. The agreement continues for a fixed period of 12
months from the date of Admission and thereafter is subject to
termination by either party giving three months' prior written
notice.
AIF Status
The Company has engaged Station 12 Asset Management Limited to
act as the alternative investment fund manager (AIFM) of the
Company.
The directors of the Company accept responsibility for the
contents of this announcement.
For further information, please contact:
Contacts
Asimilar Group plc
John Taylor, Non-Executive Chairman via Buchanan
Oberon Capital (AQSE Corporate
Adviser)
Chris Crawford / Mike Seabrook Tel: +44 20 7179 5300
Cairn Financial Advisers LLP
(NOMAD)
Sandy Jamieson / Liam Murray Tel: +44 20 7213 0880
Buchanan Communications Limited
Richard Oldworth / Chris Lane Tel: +44 20 7466 5000
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END
MSCFLFSESEILIIF
(END) Dow Jones Newswires
April 04, 2022 02:00 ET (06:00 GMT)
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