Assetco Regulatory News (ASTO)

30 January 2024

LEI: 213800LFMHKVNTZ7GV45

For Immediate Release

AssetCo plc

("AssetCo" or the "Company")

Payment of Deferred Consideration for Ocean Dial Asset Management Limited

AssetCo (AIM: ASTO), the agile asset and wealth management company, is pleased to confirm that it has today settled the deferred consideration due in respect of its acquisition of the entire issued share capital of Ocean Dial Asset Management Limited (the "Acquisition") from Avendus Capital Asset Management (UK) Limited. This follows the satisfaction of the conditions set in the Sale and Purchase Agreement pursuant to the Acquisition and, in particular, completion of a liquidity redemption event by Ocean Dial's client, the India Capital Growth Fund Limited.

The deferred consideration of £1.0m has been satisfied by the delivery of 1,464,129 ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares") as previewed in our announcement of 2 October 2023.

The deferred consideration shares have been issued at an agreed issue price of 68.3p per share and will be satisfied out of Treasury. Following the transfer, AssetCo has 5,354,770 ordinary shares remaining in treasury.

The Company announces in accordance with DTR 5.6.1 that, as at 2 October 2023 and following the transfer, the Company's issued share capital consists of 149,292,970 Ordinary Shares of which 5,354,770 are held in treasury. The total number of voting rights attaching to the Ordinary Shares is therefore 143,938,200.

The above figure (143,938,200) may be used by shareholders as the denominator for any calculation pursuant to which they determine if they are required to notify their interest in, or a change to their interest in, the Company's Ordinary Shares under the FCA's Disclosure Guidance and Transparency Rules.

About Ocean Dial Asset Management

Ocean Dial's current business is the management of the assets of the India Capital Growth Fund Limited, which, following a recent liquidity redemption event, had a net asset value ("NAV") of c.£146m as at 29 January 2024, generating an annualised run rate revenue for Ocean Dial of around £1.9m pa. The fund has been successfully advised for several years by Gaurav Narain and his team based in India and UK and is currently (as at 29 January) trading at a premium of over 2% to NAV.

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For further details, visit the website, www.assetco.com

Ticker: AIM: ASTO.L