International firm invests £840k in London financial company shares

A London investment company has secured £840k as an international firm has invested in more than a million shares.

Asimilar, which focuses on technology investments, has had 1.2 million of its shares purchased by All Active Asset Capital (AAAC) for £840k.

The shares were sold at 70 pence each, and following the completion of the investment, 1.14 per cent of Asimilar’s share capital will be held by AAAC.

The consideration for the investment is to be wholly satisfied by the issue of 168 million new ordinary shares in the company, which are to be issued at a price of 0.5 pence per AAAC share.

James Normand, executive chairman of AAAC, said: ’I am pleased that AAAC is able to make a further investment in Asimilar.

“This investment has been prompted by the strong positive reception by the market to our recent announcement of the acquisition of warrants in Asimilar.

“AAAC continues actively to seek similar opportunities for the mutual benefit of AAAC shareholders and of its investee companies.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →