Dev Clever Subscription

RNS Number : 6948Q

Asimilar Group PLC

01 March 2021

 

1 March 2021

ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')

Dev Clever Subscription

Further to the announcement of 25 February 2021, Asimilar Group plc (AIM: ASLR), the AIM quoted investment company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT), confirms that its wholly owned subsidiary, Intrinsic Capital Jersey Limited ("ICJL"), has completed the assignment of its right to subscribe for up to 30 million ordinary shares in Dev Clever Holdings plc ("Dev Clever") at 10 pence per share ("Subscription Rights") to Sitius Limited ("Sitius") for a consideration of £3 million.  ICJL has agreed to use the cash consideration arising from the assignment to Sitius to subscribe in full for the remaining 30 million ordinary shares in Dev Clever under the remaining Subscription Rights held by ICJL.  The subscription is subject to the publication by Dev Clever of a prospectus approved by the FCA by a revised back stop date of 31 March 2021 or such later date agreed by ICJL and the Company.

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For further information please contact:

	Asimilar Group plc
	John Taylor, Non-Executive Chairman	via Buchanan
	Cairn Financial Advisers LLP
	Sandy Jamieson / Liam Murray	Tel: [phone]
	Peterhouse Capital Limited
	Duncan Vasey / Lucy Williams	Tel: + 44 20 7220 9797
	Buchanan Communications Limited
	Richard Oldworth / Chris Lane	Tel: [phone]

 

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