Dev Clever Holdings PLC - Tamworth, England-based software developer for immersive career guidance and consumer engagement experiences - Agrees with Intrinsic Capital Jersey Ltd, a wholly owned subsidiary of Asimilar Group PLC, to amend subscription agreement, bringing forward the date of the fourth investment tranche to coincide with the third on February 28. By that date, Intrinsic has the right to subscribe for up to a further 60.0 million Dev Clever shares at 10 pence each, investing GBP6 million. Intrinsic already has committed to a Dev Clever stake of 40 million shares, or 8.1%, so the new subscription would raise this to 100 million, about 20%. Dev Clever and Intrinsic also agreed to vary a warrant agreement, allowing Intrinsic to exercise for 50 million more shares at 25p for two years, rather than three.
Current Dev Clever stock price: 18.80p
Year-to-date change: up 23%
Current Asimilar stock price: 33.00p
Year-to-date change: up 8.2%
By Tom Waite; thomaslwaite@alliancenews.com
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