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Update re. Suspension

31 July 2020 - 13:14
RNS Number : 7940U
Asimilar Group PLC
31 July 2020
 

 

 

31 July 2020

 

 

Asimilar Group plc

 

('Asimilar' or the 'Company')

 

Update re. Suspension

 

Following the announcement on 14 February 2020 regarding the possible investment in Sentiance NV, the Company's shares were suspended from trading on AIM with immediate effect, as the transaction would be classified as a reverse takeover in accordance with Rule 14 of the AIM Rules for Companies ("AIM Rules"). Ordinarily under the AIM Rules, the Company has six months from the date of suspension to publish an admission document setting out, inter alia, details of the proposed transaction or confirm these discussions have ceased.  If neither of these outcomes is achieved, trading in the Company's shares on AIM will be cancelled.

 

Due to market impact of Covid-19, the Company has been granted an extension from six to twelve months from 14 February 2020 for publishing such an admission document or to confirm discussions concerning the proposed investment have ceased.

 

Asimilar is continuing to work with its Nominated Adviser and other professional advisers on its admission document in relation to the proposals announced on 4 and 12 March 2020, although there is no guarantee that a formal agreement will be reached.

 

Further announcements will be made in due course. 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

-Ends-

Contacts

Asimilar Group plc

 

John Taylor, Non-Executive Chairman

via Buchanan

 

 

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

 

 

Buchanan Communications Limited

 

Richard Oldworth / Chris Lane

Tel: +44 (0) 20 7466 5000

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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