Asimilar Group PLC Assignment of Subscription Rights (2735Q)
25 February 2021 - 6:00PM
UK Regulatory
TIDMASLR
RNS Number : 2735Q
Asimilar Group PLC
25 February 2021
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended)
25 February 2021
ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')
Assignment of Dev Clever Subscription Rights
Further to the announcement dated 27 January 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), announces
that its wholly owned subsidiary, Intrinsic Capital Jersey Limited
("ICJL"), has assigned 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"). Sitius is an investment vehicle wholly owned by Dr
David von Rosen. The consideration for the assignment is GBP3
million in cash.
ICJL retains the remaining Subscription Rights to subscribe for
a further 30 million ordinary shares in Dev Clever at 10 pence per
share for an aggregate subscription price of GBP3 million.
Completion of the subscription is subject to the publication by Dev
Clever of a prospectus approved by the FCA on or before 28 February
2021. The Company intends to use the cash consideration arising
from the assignment to Sitius to meet the cost of the subscription
in full for the remaining 30 million ordinary shares in Dev Clever
under the remaining Subscription Rights held by ICJL.
In addition, ICJL has transferred a warrant to subscribe for 15
million new ordinary shares of Dev Clever at 25 pence per Dev
Clever share to Sitius for a consideration of GBP500,000 in cash.
ICJL retains a warrant to subscribe for 35 million new ordinary
shares in Dec Clever at 25 pence per Dev Clever Share. The
consideration for the transfer of the warrant to Sitius will be
used by Asimilar to make investments in accordance with its
investing policy.
Issue of Warrants
Asimilar has also agreed to issue to Sitius warrants to
subscribe for up to 6 million new ordinary shares in Asimilar at an
exercise price of 50 pence per Asimilar ordinary share at any time
from 25 February 2021 until 24 August 2022.
Asimilar will make a further announcement in due course.
-ends-
For further information please contact:
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUSSORAWUUUUR
(END) Dow Jones Newswires
February 25, 2021 02:00 ET (07:00 GMT)
Asimilar (LSE:ASLR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Asimilar (LSE:ASLR)
Historical Stock Chart
From Apr 2023 to Apr 2024