Asimilar Group Plc (AIM:ASLR) agreed to acquire Intrinsic Capital (Jersey) Limited from Mark Horrocks for £0.28 million on September 1, 2020. As part of the transaction, Asimilar Group Plc will issue 1 million new Asimilar ordinary shares. In addition, Asimilar intends to repay the loans of Intrinsic Capital (Jersey) Limited following completion of the transaction. Simultaneously, Mark Horrocks, has been granted warrants to subscribe for up to 9,000,000 Asimilar ordinary shares in 2 tranches of up to 4,500,000 warrants per tranche. Each tranche will be exercisable for two years after the relevant price criteria having been reached. As part of the transaction, Mark Horrocks has provisionally agreed to join the Board of Asimilar. The transaction is subject to due diligence and standard regulatory approvals. Sandy Jamieson and Liam Murray of Cairn Financial Advisers LLP and Duncan Vasey and Lucy Williams of Peterhouse Capital Limited acted as financial advisor to Asimilar Group Plc respectively.