Final results for the year ended 30 September 2021
21 March 2022
The Board of Asimilar Group plc (AIM: ASLR), the investment company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things, is pleased to announce the Group's audited results for the year ended 30 September 2021.
To view a full version of the results in
- Profit after tax of £26.7 million (2020: £0.4 million)
- Basic earnings per share of 23.29p (2020: 0.41p)
- Total net assets of £41.5 million (2020: £10.6 million)
- £5 million investment into Dev Clever at 10p per share
- Further investment in other existing portfolio companies, including Audioboom, SeeQuestor, Magic Media Works, Gfinity and Sparkledun
- Raised £7.3 million cash through the exercise of warrants in the Company, and the sale of Dev Clever options and warrants
Post year end developments
There have been a number of positive post period end developments in respect of the Group's portfolio companies. Dev Clever Holdings plc ("Dev Clever"), the Group's largest holding by carrying value, continues to progress its acquisition of Veative Labs Pte Ltd (Singapore) ("Veative") and its shares are currently suspended pending completion and FCA approval of its prospectus. All Active Asset Capital Ltd ("AAA") has completed its acquisition of Mesh Holdings plc, resulting in Asimilar now holding 24 million shares in AAA. AAA has announced a number of interesting developments and opportunities. Audioboom's share price has increased materially with its latest closing mid price of £18.75 per share (30 September 2021: £10.20 per share).
AQSE Growth Market
The Board today announces its intention to seek admission of its shares to trading on the Access Segment of the AQSE Growth Market. The Board believes in the opportunities offered by the AQSE Growth Market to improve liquidity in nascent
companies and in the investment companies that invest in them. It also provides greater optionality to the Board going forwards, should the Company decide to cancel the admission of its shares to trading on AIM, in terms of reducing operating costs
and taking advantage of a market regime which may be more fitting to an investment company. This includes reducing the risk that investment opportunities are missed and shareholders' interests thereby affected. The Company's shares will
continue to trade on AIM and the Board will continue to assess the dual-listing structure. Any proposal to cancel the admission to AIM would be subject to shareholder approval.
John Taylor, the Chairman of the Company, commented: "I am delighted to present these excellent results for the year in review. The Board remains very optimistic on the opportunities our portfolio companies are presented with in the coming months and believes several have the potential to make material advances in 2022. We very much look forward to updating the market with news on a number of fronts."
Asimilar Group plc
Cairn Financial Advisers LLP
Sandy Jamieson, Liam Murray
Tel: +44 20 7213 0880
Peterhouse Corporate Finance Limited (Sole broker)
Duncan Vasey / Lucy Williams
Tel: + 44 20 7220 9797
Buchanan Communications Ltd
Tel: +44 20 7466 5000 or [email protected]