Directorate Change

RNS Number : 4689C

Asimilar Group PLC

21 June 2021

 

21 June 2021

ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')

Board Appointment and Grant of Warrants

Asimilar Group plc (AIM: ASLR), the AIM quoted investment company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT) , is pleased to announce that Michael Preen has been appointed to the Board of Asimilar as a Non-Executive Director with immediate effect.  Following his appointment, he has been awarded 250,000 warrants over ordinary shares in the Company with an exercise price of 60p per share.

The Company also announces that its wholly owned subsidiary, Intrinsic Capital (Jersey) Limited, has changed its name to Asimilar Investments Limited.

Michael Preen is a qualified solicitor with 25 years' experience in the provision of legal, corporate and governance advisory services.  He qualified and spent 6 years in the market-leading investment funds team at Norton Rose (now Norton Rose Fulbright), a major international law firm, before becoming a vice-president in the corporate advisory division at Dresdner Kleinwort Wasserstein, a European investment bank.

Following two years in Australia as a senior associate specialising in real estate investment funds with Mallesons Stephen Jaques (now King & Wood Mallesons), a leading law firm in the region, he returned to the UK and joined Development Capital Management, a global real estate fund management group, where he held a number of senior management roles and was instrumental in establishing its FCA regulated securities division. 

From 2009 to 2014 he held the position of Head of Corporate and Legal Affairs at Hydrodec Group plc, an AIM listed clean tech oil company, before establishing his own corporate and governance consultancy business where he provides advisory services to the boards of various public and private companies, focussing on small cap technology clients.

Michael David Preen (age 48) holds or has held in the past five years the following directorships and/or partnerships:

Current	Past
Eversholt Academy Trust	None
Logos Capital plc
Preen Consulting Limited

Michael Preen, his related parties and members of his close family have an interest in 164,399 Asimilar ordinary shares, representing 0.14% of Asimilar's issued share capital. 

There is no further information to be disclosed in relation to Michael Preen's appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Grant of Director Warrants

The Company has issued warrants to subscribe for 250,000 new ordinary shares ("Warrants") to Michael Preen following his appointment to the Board as Non-Executive Director on 18 June 2021.  This represents 0.21% of the current issued share capital in the Company. The Warrants are exercisable at any time after 6 months and up to three years from the date of appointment and are exercisable at a price of 60 pence per share, and may be exercised, subject to the provisions of the Company's share dealing code.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michael Preen
2	Reason for the notification
a)	Position/status	Non-executive 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	Warrants to subscribe for Ordinary shares of 0.01 pence per share par value  GB00BFX2VL54
b)	Nature of the transaction	Issue of Warrants
c)	Price(s) and volume(s)	Price(s) Volume(s) 60.0p 250,000
d)	Aggregated information - Aggregated volume - Price	250,000 Warrants to subscribe for Ordinary shares of 0.01 pence per share par value 60.0 pence per Ordinary share
e)	Date of the transaction	18 June 2021
f)	Place of the transaction	Outside a trading venue

-Ends-

Contacts

Asimilar Group plc
John Taylor, Non-Executive Chairman	via Buchanan
Cairn Financial Advisers LLP
Sandy Jamieson / Liam Murray	Tel: [phone]
Peterhouse Capital Limited
Duncan Vasey / Lucy Williams	Tel: + 44 20 7220 9797
Buchanan Communications Limited
Richard Oldworth / Chris Lane	Tel: [phone]

 

END

 

 

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