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Shares in Nigel Wray backed Asimilar suspended as it buys stake in Belgian AI tech firm

Mark Shapland
AFP via Getty Images

Multi-millionaire Nigel Wray may be reeling from the trouble at Saracens rugby club, which he chaired until last month, but one of his largest investments on AIM, Asimilar Group, is about to snap up a stake in Belgian AI company Sentiance.

Asimilar, which changed its name from Yolo Leisure and Technology last December and invests in early-stage technology companies, had its shares suspended today pending an announcement.

Its largest shareholders are Wray with 11% and tech entrepreneur Christopher Akers, who has a 7% stake.

It is unknown how big the stake in Sentiance will be. A source said it would be “significant”.

Sentiance was founded in 2015 and makes AI tech products for the home. Clients include taxi giant Uber.

Before the shares were suspended at midday Sentiance stock was up 7%, or 3.5p, at 49p.