14 Jul 2020 07:29
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.
14 July 2020
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Asimilar Group plc
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('Asimilar' or the 'Company')
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Update on proposed transaction with Sentiance
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Further to the announcements on 4 and 12 March 2020, Asimilar Group plc (AIM: ASLR) is working on preparing an admission document relating to the proposed subscription in and the granting of options over the equity of Sentiance N.V. ('Sentiance').
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The Company notes the announcement published by Mesh Holdings plc ('Mesh') this morning that Mesh has made an offer to acquire the entire issued share capital of Sentiance.
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As part of this offer, the Company has received a proposal from Mesh that Asimilar would receive compensation from Mesh in the form of new ordinary shares in Mesh in consideration for the Company novating the following to Mesh:
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i) its rights to subscribe for 10,000 new Sentiance shares at a price of €750 per share ("Initial Investment");
ii) an option to purchase 32,225 existing Sentiance shares at an exercise price of €650 per share ("Option 1"); and
iii) a further option to subscribe for 10,000 new Sentiance shares at an exercise price of €750 per share ("Option 2"), all as announced by Asimilar on 4 March 2020.
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The Board of Asimilar is exploring the terms of this proposal with Mesh and is pursuing appropriate due diligence to assess its merits.
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In the meantime, Asimilar is continuing to work with its Nominated Adviser and other professional advisers on its admission document in relation to the proposals announced on 4 and 12 March 2020.
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Further announcements will be made in due course.
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-Ends-
Contacts
Asimilar Group plc | Â |
John Taylor, Non-Executive Chairman | via Buchanan |
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Cairn Financial Advisers LLP | Â |
Sandy Jamieson / Liam Murray | Tel: +44 20 7213 0880 |
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Peterhouse Capital Limited | Â |
Duncan Vasey / Lucy Williams | Tel: + 44 20 7220 9797 |
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Buchanan Communications Limited | Â |
Richard Oldworth / Chris Lane | Tel: +44 (0) 20 7466 5000 |
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