Asimilar Group PLC Completion of Subscription (6385S)
18 March 2021 - 6:00PM
UK Regulatory
TIDMASLR
RNS Number : 6385S
Asimilar Group PLC
18 March 2021
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018).
18 March 2021
ASIMILAR GROUP PLC ('ASIMILAR' OR 'THE COMPANY')
Completion of Subscription
Further to the announcement of 1 March 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), notes the
announcement today by Dev Clever Holdings plc ("Dev Clever") that
it has published a prospectus dated 17 March 2021.
Accordingly the subscription by the Company's wholly owned
subsidiary, Intrinsic Capital Jersey Limited ("ICJL"), for 30
million ordinary shares in Dev Clever at 10 pence per share will
now proceed, with completion expected to occur on or around 23
March 2021 when the new ordinary shares in Dev Clever are admitted
to trading.
On completion of the subscription, Asimilar will have an
interest in 70 million ordinary shares in Dev Clever representing
approximately 12.2 per cent. of Dev Clever's issued share capital.
In addition to the 70 million ordinary shares, Asimilar retains a
warrant to subscribe for 35 million new ordinary shares in Dev
Clever at 25 pence per Dev Clever share.
Commenting on the completion of subscription, John Taylor,
Non-Executive Chairman of Asimilar, said: "The successful
completion of this subscription, with the share price of Dev Clever
now trading at a significant premium to our entry price,
demonstrates our ability to spot exciting opportunities and ensures
we are able to benefit from their future growth.
"We remain excited by the future prospects of a number of our
other investments and will update shareholders, as appropriate, 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
FURFDLLFFXLEBBK
(END) Dow Jones Newswires
March 18, 2021 03:00 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