RCS - All Active Asset Cap - Transaction and Business Progress Update

Wam CapitalAnnouncement

28/09/2021 15:10

RNS Number : 2575N
  
All Active Asset Capital Limited
  
28 September 2021
  
 

28 September 2021
 
All Active Asset Capital Limited
('AAA' or 'the Company')
Transaction and Business Progress Update 
 
AAA is pleased to update shareholders on the progress it has made during the last two months. 
 
Sentiance N.V. ('Sentiance')
AAA recently completed a €5.0 million cash equity investment in Sentiance and, as part of the proposed acquisition of MESH Holdings plc, will shortly own 25.3%[1] of Sentiance. The  acquisition of the remaining Sentiance equity is expected to conclude in October and will result in AAA owning 100% of Sentiance.  
 
The Sentiance business continues to develop positively at an accelerated pace with high profile new client and contract wins across the world.  AAA will provide a further update when  the acquisition of the remaining Sentiance equity is completed.
 
AAQUA B.V. ('AAQUA')
AAA intends to enter into agreements to acquire further significant equity stakes in AAQUA within the next three weeks.  Following the completion of these transactions, it is anticipated AAA will own 28.4% of the then issued share capital of AAQUA. AAA will provide a further update once these transactions have concluded.
 
AAQUA is planning to accomplish a Minimum Viable Proposition ('MVP') before the end of 2021, and anticipates it will conclude a very significant equity raise shortly thereafter. 
 
MESH Holdings plc ('MESH')
AAA and MESH have now agreed key terms for the acquisition of MESH by AAA. The acquisition is to be completed through a Scheme of Arrangement, with the consideration for the acquisition being a share-for-share swap of 1 new AAA share for 1 existing MESH share.
 
Once finalised, the circular setting out the terms of the Scheme of Arrangement will be posted to MESH shareholders. The posting of the circular starts a 45 day timetable which concludes with a Court hearing and meetings of MESH shareholders to vote on the scheme. If MESH shareholders vote in favour of the proposals and the Court approves the scheme, MESH will become a 100% owned subsidiary of AAA, and MESH shareholders will become substantial shareholders in AAA.  
 
Rodger Sargent, AAA Executive Director, commented, "We are encouraged with the material progress made on the Sentiance, AAQUA and MESH transactions; by the end of October 2021, AAA should own 100% of Sentiance and over 28% of AAQUA. Both of these highly innovative organisations continue to make good progress with the execution and implementation of their complementary and increasingly synergistic game plans.  
 
"In parallel, we continue to make progress with the re-listing of the enlarged AAA onto an international stock exchange and will update shareholders on the next stages of the process as soon as we are able."
 
 
For further information:
All Active Asset Capital Limited
James Normand, Non-Executive Chairman
Rodger Sargent, Executive Director
www.aaacap.com 
 
Buchanan (Financial PR)
Richard Oldworth / Chris Lane / Toto Berger
T: +44 (0) 207 466 5000
E: AAAC@buchanan.uk.com
 

 


[1]  on current issued Sentiance share capital, or 21.2% on the anticipated fully diluted basis
 


This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. 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.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
NRALPMJTMTMTBJB