Asimilar Group Plc

M&A Activity • Apr 12, 2021

National Storage Mechanism | Additional information

RNS Number : 1092V

Asimilar Group PLC

12 April 2021

12 April 2021

Asimilar Group plc

('Asimilar' or the 'Company')

Update re: Dev Clever Holdings plc

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) notes the announcement made this morning by Dev Clever Holdings plc ("Dev Clever"), which is listed on the Standard List of the London Stock Exchange, regarding the proposed acquisition by Dev Clever of the entire issued share capital of Veative Labs Private Limited ("VLPL"), a wholly owned Indian subsidiary of Veative Labs Pte Ltd (Singapore) ("Veative"), subject among other things, to the publication of a prospectus.

Asimilar has an interest in 70 million ordinary shares in Dev Clever currently representing approximately 12.2 per cent. of Dev Clever's issued share capital.  In addition to the 70 million ordinary shares, Asimilar  retains a warrant to subscribe for 35 million new ordinary shares in Dev Clever at 25 pence per Dev Clever share.

The Dev Clever announcement can be viewed in full in the link below:

https://www.londonstockexchange.com/news-article/DEV/agreement-with-veative/14932290 

-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 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

UPDDKBBNABKKPQD