All Active Asset Capital Limited Change in Asimilar Options Consideration (5243V)
2020年8月7日 - 7:43PM
RNSを含む英国規制内ニュース (英語)
TIDMAAA
RNS Number : 5243V
All Active Asset Capital Limited
07 August 2020
7 August 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014
("MAR").
All Active Asset Capital Limited
('AAAC' or 'the Company')
Amendment to consideration terms for options over warrants in
Asimilar
Following the announcement, on 14 May 2020, of the granting of
options to AAAC ('the Options') over certain warrants in Asimilar
Group plc ('Asimilar'), the Company is pleased to announce that it
has today entered into an agreement in connection with revised and
improved consideration terms for certain of these Options.
The Company was granted the Options on 14 May 2020, exercisable
at the sole discretion of AAAC, to acquire a total of 20,500,000
warrants ('the Warrants') in Asimilar from a range of investors. Of
the 20,500,000 Warrants, 15,500,000 Warrants are exercisable at 6p
per Asimilar share and 5,000,000 Warrants are exercisable at 18p
per Asimilar share. These Warrants expire on 31 October 2020 and 30
September 2020 respectively. The Options expire on the dates on
which the Warrants expire.
The Options were granted to AAAC by certain clients of Optiva
Securities Limited, Peregrine & Black Investment Management
Limited, Intrinsic Capital LLP and by Ramco Consultants Limited
('the Warrant Holders').
It was previously announced that the consideration payable upon
exercise of the Options in full would be satisfied by the issue to
the Warrant holders of 231,000,000 new AAAC ordinary shares at a
price of 1.5 pence per share. However, given the material
appreciation in the market price of AAAC's shares since the grant
of the Options, the Company has amended its agreement with the
Warrant Holders for 20,000,000 of the 20,500,000 Warrants, so that
upon exercise of these 20,000,000 Options in full, a reduced total
of 48,000,000 AAAC ordinary shares would be issued to these Warrant
Holders.
Rodger Sargent, Executive Director of AAAC, commented, "Should
the Company exercise these 20,000,000 Options over Warrants in
Asimilar, the significantly lower amount of AAAC equity to be
issued would mean materially less dilution for the Company's
shareholders, despite still benefiting from Warrants that are
significantly 'in the money' compared to the suspension price of
Asimilar's shares."
For further information:
All Active Asset Capital Limited
James Normand, Non-Executive Chairman
Rodger Sargent, Executive Director
T: +44 (0) 7779 799431
www.aaacap.com
Allenby Capital Limited (Nominated Adviser and Broker)
Alex Brearley / Nick Athanas
T: +44 (0) 203 328 5656
www.allenbycapital.com
Buchanan (Financial PR)
Richard Oldworth / Chris Lane / Toto Berger
T: +44 (0) 207 466 5000
E: AAAC@buchanan.uk.com
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.
END
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August 07, 2020 06:43 ET (10:43 GMT)
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