03 January 2020
Asimilar Group Plc (AIM: ASLR), the 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 it is making progress in exploring investment opportunities which the Board believes could be transformational for the Company.
Following an approach from a number of existing and some potentially new professional investors, the Board is considering a further fundraise. It is currently contemplated that the Company could raise up to around £5.5 million at some time in the near future at a subscription price to be agreed, however indications are that it will be at or above the current share price.
The net proceeds of the fund raise, if any, are intended to be used, in conjunction with the funds currently held by Asimilar, to pursue the Company's investing policy of focusing on technology opportunities in the fields of big data, machine learning, telematics and the internet of things. The Company is currently actively considering a number of potential investment opportunities some of which may, or may not, lead to a reverse takeover at some time in the future.
In the event that Asimilar raises a further £5 million, it expects to have net cash available for investment of approximately £7.5 million.
There is no guarantee that the fundraise being contemplated will complete or that any particular investment will be made.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
|Asimilar Group plc|
|John Taylor, Non-Executive Chairman||via Wallbrook|
|Cairn Financial Advisers LLP|
|Sandy Jamieson, Liam Murray||Tel: +44 20 7213 0880|
|Peterhouse Capital Limited|
|Duncan Vasey / Lucy Williams||Tel: + 44 20 7220 9797|