Thinking1 Jan 2023 19:44
I’ve been thinking a lot about Devclever and the reverse takeover. From memory (forgive me if I’m not 100% accurate) we “paid” the equivalent of £54mil-ish in shares for Veativelabs and it was considered a reverse takeover. Imagine then that as a maximum Dev is valued at £54mil as it surely couldn’t be worth more. This means that dev is valued at 21% of the £254mil valuation at suspension, or 6.37p…..maximum! It will be much less. Stick a discount on this for the Bargain Market Facility, and we could easily be valued as low at 1-2p a share and 2p would leave me with a 73% loss when on suspension I was over 300% in profit, although I think it will be 1p or less. I genuinely hope I’m wrong. Getting something back is better than nothing, but we have to realise that anything written within an RNS or later in any publication, from this company is worth nothing, zip, nowt…..nothing can be believed. “Reasonable endeavours” to enable a market facility so shareholders can trade off market, is not an inspiring or committed statement. Sell and it will be at a massive loss. Hold on the hope of relist that will be years away, and we are at the mercy of charlatans, who will have more freedom to do what they want, without the constraints of a listed company.
I genuinely wish all Dev shareholders all the best of luck as we didn’t deserve this, but I just don’t see a positive outcome for us within the next three years, if at all.
Byju gets a bad press for a number of reasons, but at least they see companies they want and raise the funds to acquire them. If we think Dev was bad, how can we possibly think Veative will be any better. The way this deal has been managed has been callus and calculated, with the only purpose to get Dev on the cheap. This is encapsulated by Launchmycareer on LinkedIn, on 16th Dec 2022, a date that will be engraved in the mind of all Dev shareholders for many years to come. A day where we felt pain, suffering, anguish and disbelief at the RNS released, all while LMC were posting on LinkedIn talking about how much fun they were having at work! Rubbing salt into an open and severe wound. See below
“ We at LMC never miss a chance to have fun! Last Friday, we enjoyed in full swing as we took out time to engage with each other and simply have fun together.”
This on a day PI’s individually lost tens of thousands of pounds. Some losing ££ in six figures. This is the contempt that PIs are held by the new CEO.
So cross fingers, cross toes…look for a four leaf clover and pray to whoever you feel will help the most, but Veative will not be looking out for its private investors. I HOPE to get maybe £2-£3k back from a £23 investment that was once worth £146k and was worth £100k on suspension. In reality I know it is gone!
Hope and reality rarely come together, but it is possible..I just hope the directors of Dev Clever and Veative, including Jeffries and Aggarwal have some understand of the impact of their actions! Will they c
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