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ASLR - Asimilar News Story

40.5p -0.5  -1.2%

Last Trade - 19/04/21

Sector
Financials
Size
Micro Cap
Market Cap £49.7m
Enterprise Value £49.2m
Revenue £14.0k
Position in Universe 1248th / 1819

Asimilar Group PLC - Dev Clever Subscription

Mon 1st March, 2021 11:02am
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.

 

 

-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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