31 Jul 2020 12:14
31 July 2020
Asimilar Group plc
('Asimilar' or the 'Company')
Update re. Suspension
Following the announcement on 14 February 2020 regarding the possible investment in Sentiance NV, the Company's shares were suspended from trading on AIM with immediate effect, as the transaction would be classified as a reverse takeover in accordance with Rule 14 of the AIM Rules for Companies ("AIM Rules"). Ordinarily under the AIM Rules, the Company has six months from the date of suspension to publish an admission document setting out, inter alia, details of the proposed transaction or confirm these discussions have ceased. If neither of these outcomes is achieved, trading in the Company's shares on AIM will be cancelled.
Due to market impact of Covid-19, the Company has been granted an extension from six to twelve months from 14 February 2020 for publishing such an admission document or to confirm discussions concerning the proposed investment have ceased.
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, 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-
Contacts
Asimilar Group plc |
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John Taylor, Non-Executive Chairman | via Buchanan |
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Cairn Financial Advisers LLP |
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Sandy Jamieson / Liam Murray | Tel: +44 20 7213 0880 |
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Peterhouse Capital Limited |
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Duncan Vasey / Lucy Williams | Tel: + 44 20 7220 9797 |
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Buchanan Communications Limited |
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Richard Oldworth / Chris Lane | Tel: +44 (0) 20 7466 5000 |