Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulations ("MAR"). Upon publication of this Announcement, this information is now considered to be in the public domain.
28 July 2022
Asimilar Group plc
("Asimilar", the "Company" or the "Group")
Exercise of warrants and Director Dealing
The Board of Asimilar (AIM/AQSE: ASLR) has today received an exercise notice from Sohail Bhatti, a director of the Company, in respect of warrants ("Warrants") to subscribe for 2,000,000 new ordinary shares of 0.01 pence each in the Company ("Ordinary Shares"). The Warrants have an exercise price of 5 pence per share.
The instrument that created the Warrants provided for a "cashless exercise" mechanism, whereby a formula calculates the number of new Ordinary Shares to be issued to the holder of the Warrants for the payment of the nominal value per Ordinary Share. This is derived from the average mid-market closing price for an Ordinary Share over the preceding 30 calendar days and results in a number of new Ordinary Shares being issued to reflect the "in the money" value of the Warrants, without the holder being required to pay the full exercise price for all 2,000,000 Ordinary Shares. The number of new Ordinary Shares to be issued pursuant to this cashless exercise mechanism is 1,090,849.
Following the issue of the new Ordinary Shares, Mr Bhatti will have an interest in 1,157,516 Ordinary Shares, representing 0.94% of the Company's issued share capital.
Application has been made to AIM and AQSE for the admission to trading on those respective markets of these new Ordinary Shares. It is expected that admission will become effective on or around 2 August 2022.
Total Voting Rights
Following the issue of the new Ordinary Shares, the issued ordinary share capital of the Company will comprise 123,348,125 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company is 123,348,125. This figure may be used by shareholders 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 under the FCA's Disclosure Guidance and Transparency Rules.
The FCA notification in respect of the above, made in accordance with the requirements of the UK Market Abuse Regulation, is appended below. The Directors of the Company are responsible for the release of this announcement.
Contact details:
| Asimilar Group plc | |
| John Taylor | via Buchanan |
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Cairn Financial Advisers LLP (AIM Nominated Adviser) | |
| Sandy Jamieson, Liam Murray | Tel: +44 20 7213 0880 |
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Peterhouse Capital Limited (Joint Broker) | |
| Duncan Vasey / Lucy Williams | Tel: + 44 20 7220 9797 |
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| Oberon Capital (Aquis Corporate Adviser and Joint Broker) | |
| Chris Crawford | Tel + 44 20 3179 5300 |
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Buchanan Communications Ltd |
Tel: +44 20 7466 5000 or Asimilar@buchanan.uk.com |
| Richard Oldworth | |
| Chris Lane | |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Sohail Bhatti | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Asimilar Group plc | ||||
| b) | LEI | 213800AYJZ2B8QNY7H15 | ||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.01p in Asimilar Group plc
GB00BFX2VL54 | ||||
| b) | Nature of the transaction | Exercise of warrants and issue of new ordinary shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
N/A N/A | ||||
| e) | Date of the transaction | 27 July 2022 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
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