ASLR.L Regulatory News (ASLR)

23 September 2020

ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')

Board Changes

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), is pleased to announce that, further to the announcement made on 1 September 2020, Mark Horrocks has been appointed to the Board of Asimilar as a Non-Executive Director with immediate effect.

Donald Stewart, a director of the Company, will retire from the Board to pursue his other commercial interests. His resignation will take effect from the conclusion of the forthcoming Annual General Meeting, the date of which will be announced by the Company in the coming days.

The Board has also begun a search to identify a further independent Non-Executive Director and is committed to appointing such an individual on completion of relevant due diligence processes. The Company will update the market on progress in this regard in due course.

Mark Horrocks 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.

Mark Ian Horrocks (age 58) holds or has held in the past five years the following directorships and/or partnerships:

Mr Horrocks was a director of Ballymore Leisure Limited when a receiver was appointed in April 2003.

Mr Horrocks was a director of Envenio Limited when it was subject to a creditors' voluntary liquidation in June 2008.

Mr Horrocks was a director of Technomark Consulting Services Limited when it was dissolved pursuant to a winding up order in June 2011.

Mr Horrocks was a director of Biopharm Knowledge Publishing Limited when it was subject to a creditors' voluntary liquidation in August 2012.

Mark Horrocks, his related parties and other members of his family have an interest in 5,422,947 Asimilar ordinary shares, representing 5.10% of Asimilar's issued share capital. In addition Mark Horrocks has warrants to subscribe for up to 9,000,000 Asimilar ordinary shares in 2 tranches of up to 4,500,000 warrants per tranche. Each tranche will be 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 Holdings plc for a period of five consecutive Business Days being or exceeding (i) 28 pence; and (ii) 55 pence respectively.

There is no further information to be disclosed in relation to Mark Horrock's appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

-Ends-

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