Asimilar given extra six months to pursue reverse takeover

Fri, 31st Jul 2020

Cash shell Asimilar said it had been granted an extra six months to complete a reverse takeover, lest its shares be cancelled from trading under listing rules. The company had on 14 February announced a possible investment in Sentiance and its shares were suspended from trading. It had six months to complete a reverse takeover under AIM listing rules but that six months had been extended to 12, due to the Covid-19 pandemic. '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,' the company said. Story provided by StockMarketWire.com

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