REG - Asimilar Group PLC - Dev Clever Subscription

AsimilarAnnouncement

01/03/2021 11:05

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 £3 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.
 
 
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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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