REG - Asimilar Group PLC - Update re Dev Clever Subscription Rights

AsimilarAnnouncement

02/11/2020 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20201102:nRSB8484Da

RNS Number : 8484D  Asimilar Group PLC  02 November 2020

The information contained in this announcement is deemed by the Company to
constitute inside information as stipulated under the EU Market Abuse
Regulation (596/2014). Upon publication of the announcement via a regulatory
information service, this information is considered to be in the public
domain.

 

2 November 2020

Asimilar Group plc

('Asimilar' or the 'Company')

 

Update re: Dev Clever Holdings plc and Sentiance Loan Repayment

 

 

Asimilar Group plc (AIM: ASLR), the AIM quoted investing 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"), which currently holds
20 million shares in Dev Clever Holdings plc ("Dev Clever") (representing
4.25% of Dev Clever's issued share capital), has agreed, subject to Dev Clever
publishing a prospectus by 30 November 2020, to extend the deadline in
relation to the second tranche of its subscription rights to invest in new
shares in Dev Clever ("Subscription Rights") from 31 October 2020 to 30
November 2020.  Dev Clever is listed on the Standard List of the London Stock
Exchange.

 

The revised Subscription Rights give ICJL the right to subscribe for up to a
further 80 million new ordinary shares in Dev Clever ("Subscription Shares")
at 10.0 pence per Subscription Share in the following tranches:

 

·       20 million Subscription Shares on or before 30 November 2020;

 

·       20 million Subscription Shares on or before 28 February 2021;
and

 

·       40 million Subscription Shares on or before 30 June 2021.

 

Following the exercise of the Subscription Rights in full, ICJL would be
entitled to exercise a warrant to subscribe for up to 50,000,000 additional
Dev Clever shares at a price of 25 pence. ICJL can opt to accelerate the
subscription of these tranches and will keep this option under review as it is
keen to support the strategic development of Dev Clever.

 

Loan to Sentiance

 

The Company announced on 30 September 2020 that it remained in regular
discussions with Sentiance over the repayment of the €3m loan that was
advanced while it was in negotiations regarding the proposed investment in
Sentiance.  The terms of the loan agreement are that it should be repaid on
or before 25 February 2021, however the discussions regarding early repayment
remain ongoing, and a further announcement will be made in due course.

 

 

-Ends-

Contacts

 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUPGQUGUPUGMG