Dev Clever Holdings PLC COVID-19 and Trading Update (7981H)

TIDMDEV

RNS Number : 7981H

Dev Clever Holdings PLC

27 March 2020

Dev Clever Holdings plc

("Dev Clever" or "the Company")

COVID-19 Response and Trading Update

Dev Clever, a leading developer of mobile and immersive experiences, announces its response to Government advice on COVID-19 and an update on current trading.

Dev Clever has successfully activated and implemented its business continuity plan, ensuring the safest and best possible working conditions for its employees. All employees have transitioned to remote working, and operations are continuing largely as normal.

Current Trading

Current trading remains strong with subscriptions for the Company's SaaS-based career guidance platforms, Launchyourcareer.com and VICTAR VR ("VICTAR"), increasing by over 223% since the end of February 2020. This takes the total number of UK schools using the platform to 191. This increased demand is a direct result of more schools identifying an immediate remote-based learning requirement. In addition, the US launch of the platforms, in partnership with global hardware manufacturer Lenovo, remains on track for April 2020.

To further support schools while they are closed, the Company has adapted its third remote learning platform, Launchpad for Employers, towards educational establishments. The e-learning platform, launched in September 2019, was initially designed for companies to remotely upskill existing employees and induct and onboard new recruits into their organisations. This platform can now also be adopted by schools and other educational establishments to support their remote-learning requirements.

The increased demand for Launchyourcareer.com and VICTAR as well as the marketing of Launchpad for Employees to educational establishments is being supported by the company's enlarged marketing resource following its recent acquisition of Phenix Digital Limited, announced on 10 March 2020.

Chris Jeffries, CEO of Dev Clever, commented: "Following Government advice during this period of uncertainty, the safety and wellbeing of our employees is paramount. We are pleased that our business continuity plans have been successfully implemented. Our support of educational establishments is driven by well-invested remote learning platforms and technology, and we are delighted that the US launch of our careers guidance platforms is on track. We believe the US is the largest EdTech market globally, and it therefore represents a significant opportunity for the Company.

"In addition, we have been able to widen our support to schools beyond careers guidance, and have adapted our employer platform to encompass a broad educational offering. We look forward to continuing to support schools and parents throughout this period."

 
 Dev Clever Holdings plc 
  Christopher Jeffries 
  Chief Executive Officer and Executive 
  Chairman 
 
  Nicholas Ydlibi 
  Chief Financial Officer                    +44 ( 0) 845 459 0774 
 
 Novum Securities Limited - Joint Broker 
  Colin Rowbury                              [phone] 
                                            ---------------------- 
 
 Pello Capital - Joint Broker 
  Daniel Gee                                 [phone] 
                                            ---------------------- 
 
 Buchanan Communications 
  Richard Oldworth / Chris Lane              [phone] 
                                            ---------------------- 
 
 Vox Markets - Digital Investor Relations 
  Martin Luke / Katrina Perez                [phone] 
                                            ---------------------- 
 

Notes to Editors

Dev Clever Holdings plc, together with its wholly owned subsidiary DevClever Limited, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based gamification and VR technologies to deliver rich customer engagement experiences across both the commercial and education sectors. The Group's core focus is the development and commercialisation of its three core platforms:

Educate

A careers guidance and recruitment solution that offers secondary schools, colleges, universities, apprenticeship providers and employers with a range of digital products to more efficiently recruit and develop applicants and skills within their institutions and organisations.

Within Agency Services:

Engage: A cloud-based gamification solution that offers brands and retailers a range of products to drive higher levels of consumer engagement via the use of digitally redeemable incentives at the same time as fully controlling spend.

Experience: A multi-user virtual reality (VR) framework and augmented reality framework that enables customers of our Engage and Educate channels to extend their customer and student experiences through VR.

On 21 January 2019, Dev Clever listed on the Standard List of the London Stock Exchange.

For further information, please visit www.devcleverholdingsplc.com

- Ends -

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 [e-mail] or visit www.rns.com.

END

UPDDDGDXDSDDGGL

(END) Dow Jones Newswires

March 27, 2020 03:00 ET (07:00 GMT)