RE: New RNS13 May 2020 11:44
13 May 2020
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
13 May 2020
Dev Clever Holdings plc
("Dev Clever" or "the Company")
Call Option Agreement
Dev Clever, a leading developer of mobile and immersive experiences, announces that Chris Jefferies, Dev Clever ' s founder and Chief Executive Officer, has entered into a Call Option Agreement ("Call Option") with Christopher Akers ("Mr Akers") in respect of 50 million ordinary shares held by Chris Jeffries in Dev Clever at a fixed price of 8.0p per share. The Call Option can be exercised in full, or in part, at any time during the period ending on 31 May 2021 at Mr Akers ' sole discretion.
At present Mr. Akers has an indirect interest in 35,000,000 ordinary shares of the Company, representing circa 8% of the issued share capital in the Company.
Chris Jeffries currently holds 200,000,000 ordinary shares of the Company, representing approximately 45.9% of the issued share capital in the Company, and loan notes convertible into 40,000,000 new ordinary shares of the
Company, representing approximately 9.18% of the issued share capital in the Company.
Chris Jeffries, CEO of Dev Clever, said: "Earlier this year Chris accumulated a meaningful minority shareholding in the Company and I am happy to be giving him this option to acquire additional shares as it demonstrates his confidence in our global EdTech platforms."
Chris Akers added: "The Dev Clever management team has made considerable strides over the past year and their bespoke products and services are now genuinely becoming a recognised force in the EdTech market; as recently demonstrated by their global partnership with Lenovo. Chris and I share a common objective in that we want to ensure that Dev Clever can effectively capitalise on the enormous global EdTech market opportunity."
Dev Clever Holdings plc
Christopher Jeffries - Chief Executive Officer and Executive Chairman