Unaudited Interim Results for the six months ended 31 March 2022

The Board of Asimilar (AIM/AQSE: ASLR) announces the Group's unaudited results for the six month period ended 31 March 2022.

Key financials:

• Loss for the period of £10.6 million (H1 2021: profit of £23.4 million), driven by the unrealised loss on the value of the Group's holding in Dev Clever Holdings plc ("Dev Clever") over the period.  This reflected a fall in the Dev Clever share price from 38.5p per share at 30 September 2021 to 27p per share at 31 March 2022*
• Net assets of £30.9 million (30 September 2021: £41.5 million), reflecting the unrealised loss on the Dev Clever investment
• Net asset value (NAV) per share of 25.3p (30 September 2021: 34.1p)
  

John Taylor, Chairman, commented: "The Board continues to work on delivering the Group's strategy, which is focused on investment opportunities in the technology and software sectors with its primary focus being in the fields of big data, machine learning and the internet of things (IOT).  The six months in review (and subsequent period) have seen significant headwinds in our sectors of interest and therefore reflect somewhat of a consolidation period.  The Group awaits further news on the RTO and associated re-listing of Dev Clever, and the proposed re-listing of All Active Asset Capital ("AAA") on an international exchange, both of which should add further flexibility to the Group in deploying additional capital in new opportunities which the Board continues to actively review."

*The Dev Clever share price was 30p per share on 24 December 2021 when the shares in Dev Clever were suspended pending a proposed reverse takeover ("RTO"), however the Board have valued these shares at 27p per share at the period end to reflect off-market trading activity

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