Update re MESH

9 March 2021

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

Update re MESH

Further to the announcement of 15 February 2021, 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), notes the announcement this afternoon by All Active Asset Capital Limited ("AAA") that it has been informed by MESH Holdings plc ("MESH") that the sale and purchase agreement ("the Original SPA") to acquire Sentiance NV ("Sentiance") has been amended.

According to the announcement, under the revised agreement ("the Revised SPA"), 100% of Sentiance will still be acquired by AAQUA BV ("AAQUA") and MESH, but in different proportions. AAQUA will now acquire a significant majority equity holding in Sentiance, rather than the 20% envisaged under the Original SPA, and that completion is expected by 31 March 2021.

Asimilar holds 24,000,000 ordinary shares in MESH credited as fully paid, representing approximately 8.3% of the issued share capital of MESH.

Further announcements will be made in due course.

-Ends-

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