Dev Clever Holdings PLC COVID-19 and Trading Update (7981H)
March 27 2020 - 3:00AM
UK Regulatory
TIDMDEV
RNS Number : 7981H
Dev Clever Holdings PLC
27 March 2020
Dev Clever Holdings plc
("Dev Clever" or "the Company")
COVID-19 Response and Trading Update
Dev Clever, a leading developer of mobile and immersive
experiences, announces its response to Government advice on
COVID-19 and an update on current trading.
Dev Clever has successfully activated and implemented its
business continuity plan, ensuring the safest and best possible
working conditions for its employees. All employees have
transitioned to remote working, and operations are continuing
largely as normal.
Current Trading
Current trading remains strong with subscriptions for the
Company's SaaS-based career guidance platforms,
Launchyourcareer.com and VICTAR VR ("VICTAR"), increasing by over
223% since the end of February 2020. This takes the total number of
UK schools using the platform to 191. This increased demand is a
direct result of more schools identifying an immediate remote-based
learning requirement. In addition, the US launch of the platforms,
in partnership with global hardware manufacturer Lenovo, remains on
track for April 2020.
To further support schools while they are closed, the Company
has adapted its third remote learning platform, Launchpad for
Employers, towards educational establishments. The e-learning
platform, launched in September 2019, was initially designed for
companies to remotely upskill existing employees and induct and
onboard new recruits into their organisations. This platform can
now also be adopted by schools and other educational establishments
to support their remote-learning requirements.
The increased demand for Launchyourcareer.com and VICTAR as well
as the marketing of Launchpad for Employees to educational
establishments is being supported by the company's enlarged
marketing resource following its recent acquisition of Phenix
Digital Limited, announced on 10 March 2020.
Chris Jeffries, CEO of Dev Clever, commented: "Following
Government advice during this period of uncertainty, the safety and
wellbeing of our employees is paramount. We are pleased that our
business continuity plans have been successfully implemented. Our
support of educational establishments is driven by well-invested
remote learning platforms and technology, and we are delighted that
the US launch of our careers guidance platforms is on track. We
believe the US is the largest EdTech market globally, and it
therefore represents a significant opportunity for the Company.
"In addition, we have been able to widen our support to schools
beyond careers guidance, and have adapted our employer platform to
encompass a broad educational offering. We look forward to
continuing to support schools and parents throughout this
period."
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
----------------------
Vox Markets - Digital Investor Relations
Martin Luke / Katrina Perez +44 (0) 203 865 0130
----------------------
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 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
A 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: A 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.
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.
On 21 January 2019, Dev Clever listed on the Standard List of
the London Stock Exchange.
For further information, please visit
www.devcleverholdingsplc.com
- Ends -
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDDDGDXDSDDGGL
(END) Dow Jones Newswires
March 27, 2020 03:00 ET (07:00 GMT)
Dev Clever (LSE:DEV)
Historical Stock Chart
From Apr 2024 to May 2024
Dev Clever (LSE:DEV)
Historical Stock Chart
From May 2023 to May 2024