The Board is pleased to announce the Group s unaudited results for the six month period ended 31 March 2021. The key highlights during the period were: · Completion of £7m investment in Dev Clever Holdings Plc ( DEV )at 10p per share · Sale of option and warrant rights to subscribe to, in aggregate, up to 45 million ordinary shares in DEV by the Company s wholly owned subsidiary, Intrinsic Capital Jersey Limited ( ICJL ) to Sitius Limited, for £3.5m cash consideration · Gain on re-measurement of assets to fair value of £21,836,376 · Profit for the period of £23,427,188 (21.67 pence per share) · Total assets of £38,066,221, up from £12,457,890 at September 2020 · Further investments in SeeQuestor Limited by ICJL for a total equity investment of £500,000 during the six month period ended 31 March 2021
I am pleased to present the annual report and consolidated financial statements for Asimilar Group plc ( Asimilar , the Group , or the Company ), for the financial year ended 30 September 2020.
Technology is at the foundation of our investment criteria. We invest in businesses that develop purpose-built technology and operational expertise with potential to scale and generate positive returns for shareholders. We back founders that have a dedicated passion and competency for creating and engineering premium customer experiences through technology, content and product innovation.
As an investment business we evaluate a significant pipeline of potential investment opportunities based on the principles of our stated investment criteria. Before investing, the board always evaluates the opportunities diligently and takes valued input from key shareholders and our investor partners on the value potential of the investment opportunities.