TIDMAAA
RNS Number : 0616I
All Active Asset Capital Limited
30 March 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
30 March 2020
All Active Asset Capital Limited
("AAAC" or "the Company")
Investment in shares in Asimilar Group Plc
Further to the announcement made by AAAC on 20 March 2020, the
Company is pleased to announce that it has entered into agreements
to make an investment of GBP840,000 via the acquisition of
1,200,000 existing ordinary shares in Asimilar Group Plc
("Asimilar") at a price of GBP0.70 per Asimilar share ("the
Investment") from a range of investors. The consideration for the
Investment is to be wholly satisfied by the issue of 168,000,000
new ordinary shares in the Company ("the Consideration Shares"),
which are to be issued at a price of 0.5 pence per AAAC share.
Following completion of the Investment, AAAC is expected to hold
1.14% of the current issued share capital of Asimilar. As announced
on 20 March 2020, AAAC holds warrants over new ordinary shares in
Asimilar, which if exercised, would represent less than 0.25% of
the current issued share capital of Asimilar.
Completion of the Investment is subject only to admission of the
Consideration Shares to trading on AIM ("Admission"). Application
will be made for Admission and the date on which Admission is
expected to become effective is on or around 3 April 2020. Upon
Admission, the Company's issued ordinary share capital will consist
of 690,076,072 ordinary shares with one voting right each. The
Company does not hold any ordinary shares in treasury. Therefore,
the total number of ordinary shares and voting rights in the
Company will be 690,076,072. With effect from Admission, this
figure may be used by Shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company.
70,000,000 Consideration Shares, which will represent 10.14% of
the Company's enlarged share capital on Admission, are to be issued
to certain clients of Optiva Securities Limited. 56,000,000
Consideration Shares, which will represent 8.12% of the Company's
enlarged share capital on Admission, are to be issued to certain
clients of Peregrine & Black Investment Management Limited.
42,000,000 Consideration Shares, which will represent 6.09% of the
Company's enlarged share capital on Admission, are to be issued to
certain clients of Intrinsic Capital LLP.
About Asimilar Group Plc
Asimilar is an AIM-quoted technology-focused investing company
whose investing policy is to invest in businesses which have the
potential to deliver significant returns. It focuses on
opportunities in the Big Data, Machine Learning, Telematics and
Internet of Things sectors.
Asimilar's shares were suspended from trading on AIM on 14
February 2020, due to Asimilar seeking to make a potential
investment in Sentiance NV ("Sentiance"), which is intended to be
comprised of a 9.3% new equity stake, with options which would
increase its holding to up to 35.9% of Sentiance's enlarged issued
share capital (the "Potential Sentiance Investment"). Sentiance is
a Belgian private company headquartered in Antwerp which is in the
business of developing artificial intelligence software, machine
learning and contextual behavioural data science.
Asimilar's Potential Sentiance Investment will be classified as
a reverse takeover under the AIM Rules due to the aggregate size of
this potential investment relative to Asimilar's existing
portfolio. The price per share at which Asimilar's shares were
suspended on 14 February 2020 was 47.5 pence. On 12 March 2020,
Asimilar announced a placing to raise GBP7.5 million at a price of
60 pence per share (the "Asimilar Placing"), which is conditional
on a number of matters, including Asimilar's enlarged share capital
being admitted to trading on AIM. There can be no guarantee that
Asimilar's Potential Sentiance Investment and the Asimilar Placing
will be completed, or of the final terms and timing of these
transactions.
For its financial year ended 30 September 2019, Asimilar
reported an audited loss after tax of GBP731,784 (2018: loss
GBP1,105,214). As at 30 September 2019, Asimilar's audited gross
assets were GBP2,995,972 (2018: GBP3,441,504) and the net fair
value of investments held was GBP2,684,091 (2018:
GBP3,083,995).
James Normand, Executive Chairman of AAAC, said:
'I am pleased that AAAC is able to make a further investment in
Asimilar. This investment has been prompted by the strong positive
reception by the market to our recent announcement of the
acquisition of warrants in Asimilar.'
'AAAC continues actively to seek similar opportunities for the
mutual benefit of AAAC shareholders and of its investee
companies'.
For further information:
All Active Asset Capital Limited
James Normand, Executive Chairman
Tel: +44 (0) 7779 799431
www.aaacap.com
Allenby Capital Limited (Nominated Adviser
and Joint Broker)
Nick Athanas / Alex Brearley
Tel: +44 (0) 203 328 5656
www.allenbycapital.com
Peterhouse Capital Limited (Joint Broker)
Lucy Williams / Duncan Vasey / Eran Zucker
Tel: +44 (0) 20 7469 0930
www. peterhousecap.com
Notes for editors about AAAC
AAAC is an investment company that was established as a platform
for investors looking to access growing markets in the Asia-Pacific
region. In October 2019, having previously sold one of its two
investments, the Company broadened the geographical range of its
investing policy to include Europe. The Company's investing policy
includes the creation of a portfolio of companies with at least a
majority of operations (or early-stage companies that intend to
have at least a majority of their operations) in Europe or the
Asia-Pacific region in industries with high growth potential
including, but not limited to, agriculture, forestry and
plantations, mining, natural resources, property, and/or
technology.
AAAC holds an interest in warrants over new ordinary shares in
Asimilar, which if exercised, would represent less than 0.25% of
the current issued share capital of Asimilar. Following completion
of the Investment, AAAC will also hold 1.13% of the current issued
share capital of Asimilar. Asimilar is an AIM-quoted
technology-focused investing company whose investing policy is to
invest in businesses which have the potential to deliver
significant returns. It focuses on opportunities in the Big Data,
Machine Learning, Telematics and Internet of Things sectors.
AAAC's remaining investment in the Asia-Pacific region is a 7%
holding in Myanmar Allure Group Co., Ltd. ("MAG"), which owns and
operates the Allure Resort, a combined hotel, resort and gaming
facility located in Tachileik province, Myanmar, in the vicinity of
the Thailand-Myanmar Mae Sai border.
AAAC is publicly quoted and its shares are traded on the AIM
Market, which is operated by the London Stock Exchange.
--ENDS--
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END
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