Exercise of Subscription rights

RNS Number : 8814X

Asimilar Group PLC

03 September 2020

 

The information contained in this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon publication of the announcement via a regulatory information service, this information is considered to be in the public domain.

3 September 2020

Asimilar Group plc

(' Asimilar' or the ' Company' )

Exercise of Subscription rights in Dev Clever Holdings Plc

Further to its announcement on 1 September 2020, Asimilar Group plc (AIM: ASLR), the AIM quoted investing company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT) , is pleased to announce that its subsidiary, Intrinsic Capital (Jersey) Limited ("ICJL"), has today exercised its right to subscribe for 17,500,000 shares in the capital of Dev Clever Holdings Plc ("Dev Clever") at a price of 10 pence per Dev Clever share for an aggregate subscription amount of £1.75 million in accordance with the terms of the amended Dev Clever Investment Agreement (as defined in the Company's announcement on 1 September 2020).

Dev Clever, together with its wholly owned subsidiary DevClever Limited, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based gamification and VR technologies to deliver rich customer engagement experiences across both the commercial and education sectors.  In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange.

Dev Clever has applied for the 17,500,000 new Dev Clever shares issued to ICJL to be listed on the Standard segment of the Official List and it is expected that the new shares will be admitted to listing on or around 10 September 2020.

-Ends-

Contacts

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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