(Alliance News) - Asimilar Group PLC on Friday said its shares have been suspended from trading as it signed term sheet for investment in Belgium data science firm Sentiance NV.
Asimilar was, until just before Christmas, known as YOLO Leisure & Technology.
The company said it has signed a non-binding term sheet concerning an investment in Sentiance, "which, subject to contract, may or may not be considered to be a reverse takeover transaction."
As a result, its shares have been suspended from trading whilst "work continues on this investment".
"The company's shares will remain suspended until such time as the company publishes an admission document or discussions in relation to a possible reverse takeover transaction cease," Asimilar said.
The company also said it is continuing to work with Sentiance to finalise binding legal documentation, "although there is no guarantee that a formal agreement will be reached."
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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