Asimilar Group PLC Dev Clever Subscription (6948Q)
01 March 2021 - 10:02PM
UK Regulatory
TIDMASLR
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 GBP3 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.
-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
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