Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
While investment tailed off around the world, the European edtech market enjoyed a 40% rise in the first half of the year
https://edtechnology.co.uk/business/healthy-european-edtech-market-bucks-global-trend/
We are very excited to partner with Veative Labs, making VR content creation easily accessible for teachers and students.
https://www.linkedin.com/posts/edgedvr_vreducation-accessibilitymatters-offline-activity-6955481749908840449-RSVC?utm_source=linkedin_share&utm_medium=ios_app
I suspect these are not new warrants, since no RNS from Dev Clever. It may well be that Chris Akers (via Oscillate) has bought some of the 1p warrants issued to Aldebaron on Tuesday (assuming, as rumour has it, that for all intents and purposes Aldebaron=Aaqua). Don't forget Robert Bonnier and Chris Akers are associates. The warrants have the same expiry date, so could well be the case.
"The Company has agreed to issue Aldebaron or its nominees with up to 37,885,931 warrants exercisable at 1p per share for a period of 18 months"
If they bought the original 1.5m shares @ £3.80, presumably they have paid on average significantly more than £3.80 to take them up to 2.95m shares (since the SP grew markedly over the next 15 months). So, their average buy price for the 2.95m shares could be anywhere between £3.80 and £10, for instance. So, you can't assume they're making £30k per 10k shares sold.
Doubt that, to big a wheel to re-invent by far. They can't even get the social media platform launched, having promised it last year, so they've got no chance of 'inventing' a rival Audioboom...would take years.
Aaqua were obviously looking to add Audioboom to the "refeshingly new social experience" social media platform they currently have under development (It's MAGIC...Music, Arts, Games, Interests & Community). Looks like he's given up on that idea, so will be interesting to see what he (Robert Bonnier) does with the rest of his holding.
Bottmzup, as of 19th Jul 2022, Dev Clever Holdings Plc is the owner Veative Labs Private Limited ("VLPL"). Which means "Dev Clever will retain 100% of all future revenues and profits generated from the partnership with NISA and those generated through VLPL" (see RNS 12th Apr 2021).
Veative Labs Private Limited ("VLPL") is a wholly owned subsidiary of Veative Labs Pte Ltd (Singapore). So, basically we bought Veative (India) from Veative (Singapore).
Veative (Singapore) is owned in equal share by Ankur Aggarwal and Mohammed Shalaby. So, Ankur and Mohammed now each own 112,500,000 Dev Shares (13.07% each) through their Veative (Singapore) company. I think Veative (Singapore) is just a holding company who's only asset was Veative (India), but I'd have to check up on that.
ASLR fell by about 10% on Monday, I assume because Audioboom fell by 20% on the same day.
It's been indifferent to Dev's announcements on Tuesday, since it's approx same price now as Monday close.
@LivenLearn
It's perfectly legitimate to question the motives of a major shareholder reducing their holding, however, you repeating 9.96% to 5.48%, without adding suitable caveats could be construed by some as misleading and/or alarmist. The facts are:
As per 25th Feb 2021 RNS - Chris Akers held 51,000,000 shares
As per 20th Jul 2022 RNS - Chris Akers now holds 45,435,000 shares
That is, he sold 5,565,000 shares this week (not last December) to person(s) unknown, representing an approximate 10% reduction in his holding, not 50% as you originally suggested.
It's no big deal...
Thinking about it, Sitius Ltd still have a call option agreement with CJ, to buy 5mil shares off CJ at 25p. Maybe in the great scheme of things, something's been agreed whereby the shares come from Chris Akers, rather than CJ. It's a relatively small amount, in any case.
In actual fact, the 9.96% figure in this RNS is incorrect. Chris Akers owned 9.96% when the total shares in issue was 511,810,893 as per RNS 25/02/21 (equates to 51mil shares).
Prior to yesterday the total shares in issue was 604,114,274, so his percentage prior to yesterday was actually 8.44% (51m/604m), not 9.96%. So, the RNS should say reduced from 8.44% to 5.48% (he's just not kept pace with his dilution TR1s).
Yesterday's dilution, without any additional disposal of shares, would have taken him from 8.44% to 6.15%, so he's actually disposed of approximately 5mil shares (did hold 51mil shares, now holds 45.5mil shares), that is only 10% of his holdings (about £1.5m). They've obviously not been sold on the open market, so my guess is they've been transferred to Von Rossen at Sitius Ltd, or some such other. Either that, or he needed the readies for something else.
Chris Jeffries - CEO
"Ankur, I'm delighted to welcome you to the board, joining me as joint CEO for the group. Your knowledge and expertise of the Indian and international markets is already helping shape and drive our aggressive expansion plans across the globe and I'm excited to be working side by side with you to take the group to the next level."
Ritu Kapoor - CFO LaunchMyCareer
(Selected as one of Top 10 Women CFO’s in India 2021, by India Women Entrepreneur Magazine)
"Exciting times ahead as this collaboration is going to be a game changer in Edtech space.
Congratulations Ankur Aggarwal Chris Jeffries and teams Veative Labs DevClever Ltd LaunchMyCareer"
Alan Greenberg reaction on Twitter:
“ Exciting developments and next steps at DevClever Plc. Delighted to be on this journey with Chris Jeffries and Ankur Aggarwal.”
Alan Duff just commented on Ankur’s statement:
“ Great to see the board so energised now and everyone with the same goal of getting our names out there in lights and securing some major deals.”
I particularly like this bit from Ankur: “The initial reaction to this unique offering has been tremendous.”
I mean if he’d said ‘positive”, ‘encouraging’ or ‘favourable’ , you wouldn’t get too excited, but to describe the initial reaction to LMC’s platform as ‘tremendous’ that says an awful lot. Strong words indeed from a CEO.
Chris Akers couldn't very well applaud his mate having just been given the boot.
Have a look at MHL Invest No1 Ltd. Until recently Chris Akers and Robert Bonnier both listed as directors.
https://find-and-update.company-information.service.gov.uk/company/13159987/officers
Also, this from the 1999:
"his (Robert Bonnier) degree in business administration from Schiller International University was followed by three years in corporate finance at Swiss Bank Corporation in London. In London he met Chris Akers, who went on to become chairman of Leeds United."
https://www.theguardian.com/money/1999/apr/11/theyoungrich1
Chris Akers probably has mixed feelings about today's developments. Him and Robert Bonnier (Aaqua) go back a long way, to the time when they both worked in the banking sector in the mid-90's, so a little less influence for Chris Akers going forward maybe? Look, if the share was re-listed tomorrow, I agree that it would take a big hit. However, a lot can happen in 3 months and I have more than an inkling that we'll see pretty significant announcements before the re-list.
Bagzzz, I think you’re being a tad pessimistic. Everybody knows research notes are to be taken with a large dose of salt. Also, you forgot to mention that “£20mil this YE, £51mil YE23, £128mil YE25 and £215mil YE26” (Total £414m over next 4 years) implied a share price of 120p. If you strip out Aldebaron’s revenue of £42m from that total, it still leaves expected revenue of £372m over the next 4 years, which implies a reduced SP target still well above 100p. Ok, you could argue that Aldebaron would have accelerated the revenue stream by more than the guaranteed £42m in the next 4 years, but you see where I’m coming from. In any case, I think the company will mitigate the Aldebaron loss of revenue (and more) from other quarters.
CJ has basically paid off Aldebaron out of his own money, so not sure what you mean by “The 38mil shares to Aldebaron…WTF!!”. It doesn’t represent a dilution, since Chris is forgoing his own ‘options’, so no harm done on that front. That said, I’ll be interested to find out why the company felt the need to compensate Aldebaron at all.
The 3500 subscribers are from the 2000 schools enrolled to date. There’s another 68,000 schools to go at, which would become 122,500 subscribers potentially. The roll out to schools has been in it’s infancy up to know, but with staff now in place “user numbers are increasing rapidly across the platform” – to quote CJ. And, as has been said, these numbers only represent the NISA side of the business.
It is worth reading that research note again – thanks for posting. There’s so much more going on with the company than just the Aldebaron deal. For instance, to quote from the research note:
“DEV recently confirmed phase 2 rollout of its career guidance and learning platform to the 5,930 Common Service Centre Academies (CSCA) in India with 2.6m students. DEV will receive an onboarding fee, and annual SaaS subscription fee for each of the 2.6m students, which is paid by the CSCA.”
We’ve still got phase 3 to come, which is 350,000 academies, representing heaven knows how many students.
Also, remember this one that went a bit under the radar, public schools in addition to private schools!
“DEV secured its first contract in India worth $1.5m to implement its immersive career guidance and virtual educational library at schools under central and state government control in India. DEV also took its first step into India’s large public-school sector with a new pilot, wherein it will deploy its platform and virtual reality learning services in 1,248 central government Kendriya Vidyalayas (KV). Successful DEV pilots can open up the remaining 1.1m Indian public schools.”
Cheer up pal, there’s a staggering amount of potential out there for Dev Clever.
Just to add, on the funding front, originally Dev was to acquire Veative's Indian IP for a cash consideration of USD 6.5 million. That's now changed to USD 1.15 million, with the balance to be settled in DEV shares. So, that's USD 5.35 million that Dev will have at it's disposal for funding/expansion, which compensates to a large extent for the loss of Aldebaron income this year.