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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
All Active Asset Capital Limited | LSE:AAA | London | Ordinary Share | VGG017801082 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 53.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAAA
RNS Number : 0721X
All Active Asset Capital Limited
25 August 2020
25 August 2020
All Active Asset Capital Limited
('AAAC')
Statement re Announcement by Asimilar
The Board of AAAC notes that Asimilar Group plc ("Asimilar") has today made an announcement ("the Asimilar Announcement"). This is reproduced below. AAAC's current investment portfolio includes equity, warrants and options over warrants in Asimilar. A summary of AAAC's interests in Asimilar is provided in AAAC's announcement of 26 June 2020.
The text of the Asimilar Announcement is as follows:
Asimilar Group plc
('Asimilar' or the 'Company')
Completion of Agreement with MESH Holdings plc
Lifting of Suspension
Further to its announcement on 20 August 2020, Asimilar Group plc (AIM: ASLR), the AIM quoted investing company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT), is pleased to announce that the assignment to MESH Holdings Plc ("MESH") of the Company's interest and rights to invest in Sentiance NV ("Sentiance") has now completed. Accordingly Asimilar has now terminated its negotiations with Sentiance in relation to the proposals announced on 4 and 12 March 2020, and the Company has requested that the suspension of trading in the Company's shares on AIM be lifted at 7.30 a.m. today.
As part of the negotiations regarding the proposed investment in Sentiance, the Company transferred EUR6 million to a notarial escrow account, to be returned to the Company if the investment did not proceed. The Company agreed that EUR3 million of the escrow monies could be advanced to Sentiance by means of a loan with interest accruing at 3% per annum. The Company has now received EUR3 million of the escrow monies and expects that the remaining EUR3 million will be returned to the Company in September 2020.
MESH has today issued to Asimilar 24 million new ordinary shares in MESH credited as fully paid. MESH currently has 246,090,166 ordinary shares in issue. Therefore, Asimilar now holds approximately 8.89% of the enlarged issued share capital of MESH.
MESH currently owns 16,333 shares in Sentiance equating to 16.8 per cent of Sentiance's current issued share capital. MESH also owns the intellectual property of Billion Dollar Draw and has engaged and funded Sentiance to develop a "Consumer-to-Brand" intelligence and recommendation platform called Aaquita. MESH's audited net assets as at 30 September 2019 were GBP16.6 million.
For further information:
All Active Asset Capital Limited
James Normand, Non-Executive Chairman
Rodger Sargent, Executive Director
T: +44 (0) 7779 799431
www.aaacap.com
Allenby Capital Limited (Nominated Adviser and Broker)
Alex Brearley / Nick Athanas
T: +44 (0) 203 328 5656
www.allenbycapital.com
Buchanan (Financial PR)
Richard Oldworth / Chris Lane / Toto Berger
T: +44 (0) 207 466 5000
E: AAAC@buchanan.uk.com
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END
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(END) Dow Jones Newswires
August 25, 2020 02:57 ET (06:57 GMT)
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