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19 Aug 2019 | 09:03

Dev Clever plans to raise £436k via share placing at premium

Dev Clever detailed plans to raise £435,599 through the placing of shares at a premium in an effort to accelerate the work of its recently agreed commercial partnerships. The company said it would palce 12,811,736 shares at a price of 3.40p a share, a premium of 6.25% compared to the closing bid price per share of 3.20p, on 16 August 2019, to raise £435,599, before expenses.

The company intended to use the proceeds of the placing for general working capital and towards accelerating the exploitation of its recently agreed commercial partnerships, which the directors of the company believed would be 'instrumental in delivering revenue growth and taking the Company into cash flow positivity.' At 9:03am: (LON:DEV) share price was +0.33p at 3.68p

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