REG - Asimilar Group PLC - Exercise of warrants and Director Dealing

AsimilarAnnouncement

28/07/2022 07:16

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RNS Number : 0039U  Asimilar Group PLC  28 July 2022

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

 Cairn Financial Advisers LLP (AIM Nominated Adviser)
 Sandy Jamieson, Liam Murray                                Tel: +44 20 7213 0880

 Peterhouse Capital Limited (Joint Broker)
 Duncan Vasey / Lucy Williams                               Tel: + 44 20 7220 9797

 Oberon Capital (Aquis Corporate Adviser and Joint Broker)
 Chris Crawford                                             Tel + 44 20 3179 5300

 Buchanan Communications Ltd                                Tel: +44 20 7466 5000 or Asimilar@buchanan.uk.com
                                                            (mailto: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    Ordinary shares of 0.01p in Asimilar Group plc

       Identification code

                                                                      GB00BFX2VL54
 b)    Nature of the transaction                                      Exercise of warrants and issue of new ordinary shares
 c)    Price(s) and volume(s)                                         Price(s)  Volume(s)
                                                                      0.01p     1,090,849

 
 d)    Aggregated information

       - Aggregated volume                                            N/A

       - Price                                                        N/A
 e)    Date of the transaction                                        27 July 2022
 f)    Place of the transaction                                       Outside a trading venue

 

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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