DEV.L Regulatory News (DEV)

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 as it forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

26 January 2021

Dev Clever Holdings plc

("Dev Clever" or the "Company")

Revised Subscription Rights

Dev Clever (LSE: DEV), a leading developer of online and immersive career guidance and development platforms and consumer engagement experiences, is pleased to announce that, further to the announcement of 1 December 2020, the conditional subscription by Intrinsic Capital Jersey Limited ("ICJL") for 20 million new ordinary shares at a price of 10p per share raising a total of £2 million has now become unconditional, as the issue and admission of these shares is now exempt from the requirement for publication by Dev Clever of a prospectus.

Additionally, the Company and ICJL are in discussions in respect of extending the backstop date for the publication of a prospectus approved by the FCA to enable ICJL to exercise its right to subscribe for a further 60 million shares in accordance with the original agreement announced on 13 May 2020 and to accelerate the timing of such exercise. Further updates will be announced as soon as possible.

The Company has also agreed to issue 591,099 new ordinary shares, in lieu of brokerage fees relating to the introduction of potential investors to the Company.

Applications will be made for 20,591,099 new shares to be admitted to trading, which is expected to be on or around 29 January 2021.

The new ordinary shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the new ordinary shares, the Company's issued share capital will comprise of 491,810,893 ordinary shares. This figure of 491,810,893 ordinary shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

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For further information please contact:

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.