ASLR.L Regulatory News (ASLR)

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.

Dev Clever Holdings plc

("Dev Clever" or "the Company")

Further update on conditional subscription rights with Intrinsic Capital Jersey Limited ("ICJL")

Dev Clever (LSE: DEV), a leading developer of careers guidance and development platforms, announces that further to the announcements of 13 May 2020 and 27 July 2020, it has today been announced that Asimilar Group plc, an AIM-quoted investing company focused on technology opportunities in the fields of big data, machine learning, telematics and the Internet of Things (IoT), has agreed to acquire the entire issued share capital of ICJL.

The terms of the conditional subscription agreement remain as set out in the announcement of 13 May 2020, save for the amendment announced on 27 July 2020 and the following further variations:

a) Dev Clever is now able to issue the balance of 17.5m shares of the original first tranche of subscription shares without the need to publish a prospectus and consequently ICJL will have the right to subscribe for 17.5m shares, raising £1.75 million before related costs, on or before 4 September 2020; and

b) The Company will now publish a prospectus by a revised back stop date of 31 October 2020 to enable the remaining tranches of the conditional subscription agreement along with the related warrant to be issued to ICJL.

The Company will make a further announcement once the 17.5m ordinary shares have been issued to ICJL.

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Notes to Editors

Dev Clever Holdings plc, together with its wholly owned subsidiary DevClever Limited, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based VR and gamification technologies to deliver rich customer engagement experiences across both the education and commercial sectors. In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange. The Group's core focus is the development and commercialisation of its core platforms:

Educate Division:

Careers guidance and recruitment solution that offers secondary schools, colleges, universities, apprenticeship providers and employers with a range of digital products to more efficiently recruit and develop applicants and skills within their institutions and organisations.

Agency Services:

The Company's agency services division provides customers from the retail, brand and hospitality sectors with bespoke application and customisation of the Group's proprietary cloud-based products in order to increase consumer engagement, transactional efficiencies and enhance customer experience within their venues, our products include:

Engage: a proprietary cloud-based gamification solution that offers brands and retailers a range of products to drive higher levels of consumer engagement via the use of digitally redeemable incentives at the same time as fully controlling spend.

PubPal: a proprietary, cloud based mobile, contactless ordering and payment product developed to support the independent hospitality sector. Offered as a Software-as-a-Service ("SaaS") platform, PubPal is a stand-alone product that provides venue operators with a light touch mobile ordering system that doesn't require customers to download a mobile app. PubPal is an easy to implement solution that requires no upfront cost or the need for operators to have compatible Electronic Point of Sale software.

Experience: a multi-user virtual reality (VR) framework and augmented reality framework that enables customers of our Engage and Educate channels to extend their customer and student experiences through VR.

For further information, please visit www.devcleverholdingsplc.com