Dev Clever Holdings PLC Issue of Equity (7263T)

TIDMDEV

RNS Number : 7263T

Dev Clever Holdings PLC

29 March 2021

 
 29 March 2021 
 

Dev Clever Holdings plc

("Dev Clever" or the "Company")

Issue of Equity

Dev Clever (LSE: DEV), a leading developer of online and immersive career guidance and development platforms and consumer engagement experiences, is pleased to confirm that as at 26 March 2021, the mid-market price of its ordinary shares had closed at or above 34 pence per share for five consecutive trading days. As a result, the sole remaining condition for Sitius Limited to complete a subscription for 20 million new ordinary shares at a price of 30 pence per share has now been met. These shares are expected to be allotted, raising GBP6 million before costs. Application will be made for these new ordinary shares to be admitted to trading which is expected to be on or around 6 April 2020.

The new ordinary shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the new ordinary shares, the Company's issued share capital will comprise of 593,584,189 ordinary shares (including the 20,000,000 new ordinary shares). This figure of 593,584,189 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

-ends-

For further information please contact:

 
 
 Dev Clever Holdings plc 
  Christopher Jeffries 
  Chief Executive Officer and Executive 
  Chairman 
 
  Nicholas Ydlibi 
  Chief Financial Officer                  [phone] 
 
 Novum Securities Limited - Financial 
  Adviser and Broker 
  David Coffman / Colin Rowbury            [phone] 
 
 Buchanan Communications 
  Richard Oldworth / Chris Lane            [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 VR and gamification technologies to deliver rich customer engagement experiences across both the education and commercial sectors. In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange. The Group's core focus is the development and commercialisation of its core platforms - Educate (its primary focus) and Agency Services (its secondary focus).

Educate Division:

Through Educate, Dev Clever aims to reduce the global skills shortage by delivering an enhanced careers guidance service via its online platform, Launchyourcareer.com, and virtual reality software (Victar VR). The business has established a global partnership with Lenovo to roll its service worldwide, with offerings already on the market in the UK, US and Canada. Dev Clever is also focused on the Indian market and has partnered with its National Independent Schools Alliance (NISA) and content provider Veative to provide a comprehensive service offering within Indian budget private schools. Through this, the business is developing and intends to launch a direct-to-consumer offering in India.

Agency Services Division:

The Company's Agency Services division provides customers from the retail, brand and hospitality sectors with bespoke application and customisation of the Group's proprietary cloud-based products in order to increase consumer engagement, transactional efficiencies and enhance customer experience within their venues.

For further information, please visit www.devcleverholdingsplc.com .

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.

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

IOEFFFSLVSITFIL

(END) Dow Jones Newswires

March 29, 2021 02:10 ET (06:10 GMT)