13 May 2020 10:30
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
Nicholas Ydlibi -Chief Financial Officer +44 (0) 845 459 0774
Novum Securities Limited - Joint Broker
Colin Rowbury +44 (0) 20 7399 9400
Pello Capital - Joint Broker
Daniel Gee +44 (0) 203 700 2534
Buchanan Communications
Richard Oldworth / Chris Lane +44 (0) 207 466 5105
Notes to Editors
Dev Clever Holdings plc, together with its wholly owned subsidiary Dev Clever Limited, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based gamification and VR technologies to deliver rich customer engagement experiences across both the commercial and education sectors. The Group's core focus is the development and commercialisation of its three core platforms:
Educate
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.
Within Agency Services:
Engage: cloud-based gamification solutions 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.
Experience: 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.
In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange.
For further information, please visit www.devcleverholdingsplc.com