14 Feb 2020 16:52
Asimilar Group plc
("Asimilar" or the "Company")
Statement re Suspension
Asimilar Group Plc, the AIM quoted investment company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT) notes a press article that states that the Company is to acquire a stake in a Belgium AI company named Sentiance NV ("Sentiance").
The Board confirms that the Company 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. Whilst work continues on this investment, the Company's shares have been suspended pursuant to AIM Rule 40.
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.
The Company is continuing to work with Sentiance to finalise binding legal documentation, although there is no guarantee that a formal agreement will be reached.
Further announcements will be made in due course.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
**ENDS**
Enquiries
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 |