Asimilar Group PLC Update re subscription in Dev Clever (8404M)
26 January 2021 - 6:00PM
UK Regulatory
TIDMASLR
RNS Number : 8404M
Asimilar Group PLC
26 January 2021
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.
26 January 2021
ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')
Investment in Dev Clever
Further to the announcement dated 1 December 2020, 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) , announces
that the subscription for a further 20 million new ordinary shares
in Dev Clever Holdings plc ("Dev Clever") by its wholly owned
subsidiary, Intrinsic Capital (Jersey) Limited ("ICJL"), at a
subscription price of 10 pence per Dev Clever share is now
unconditional, as the issue and admission of these shares is now
exempt from requirement for the publication by Dev Clever of a
prospectus. This subscription represents the second tranche of the
conditional subscription rights held by ICJL to invest in new
ordinary shares in Dev Clever at 10 pence per share ("Subscription
Rights").
The completion of the subscription and the admission of the new
shares to trading is expected to be on or around 29 January 2021,
whereupon Asimilar will own 40 million shares in Dev Clever,
representing 8.1% of Dev Clever's enlarged issued share
capital.
Asimilar is in discussions with Dev Clever about the opportunity
to accelerate the two remaining investment tranches under the
Subscription Rights, subject to the publication by Dev Clever of a
prospectus. A further announcement will be made in due course.
-Ends-
Contacts
Asimilar Group plc
John Taylor, Non-Executive Chairman via Buchanan
Cairn Financial Advisers LLP
Sandy Jamieson / Liam Murray Tel: +44 20 7213 0880
Peterhouse Capital Limited
Duncan Vasey / Lucy Williams Tel: + 44 20 7220 9797
Buchanan Communications Limited
Richard Oldworth / Chris Lane Tel: +44 (0) 20 7466 5000
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END
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