Cloudbuy PLC £1,475,700 Funding (2072G)
May 25 2017 - 1:21AM
UK Regulatory
TIDMCBUY
RNS Number : 2072G
Cloudbuy PLC
25 May 2017
Embargoed for 7:00am release 25 May 2017
cloudBuy plc
("cloudBuy" or the "Company")
GBP1,475,700 Funding
cloudBuy, the global provider of cloud-based eCommerce
marketplaces and B2B buyer and supplier solutions, announces that
pursuant to the Financing announced on 24 March 2016 (as defined
therein), the final GBP1,475,700 of the total GBP5,750,000 funds
available has been drawn down under the interest bearing loan note
instrument dated 8 April 2016 (the "Agreement"). In accordance with
the terms of the Agreement, the Company has issued 535,462
convertible and 940,238 non-convertible loan notes of GBP1 each to
Robert Sella.
As at 25 May 2017, following the issue of these notes, Roberto
Sella held the following non-convertible and convertible loan notes
of GBP1 each:
Convertible Loan Notes Loan Notes Total
4,203,968 1,632,598 5,836,566
The following details are required to be disclosed to comply
with the conditions of The Takeover Code pursuant to the Financing.
Mike Pasternak who is a director of cloudBuy is deemed to be acting
in concert with Roberto Sella for the purposes of the Takeover
Code.
Following the full drawdown of the facility, the holdings and
potential maximum future holdings can be calculated with more
certainty. As at 25 May 2017 (assuming the loan continues to the 10
year term, all interest is paid in kind and all Convertible Loan
Securities are converted to Ordinary Shares), the holdings of
Roberto Sella and Mike Pasternak and are as follows:
Shareholder Interest in issued share Percentage interest in Total interest on the Percentage
capital on 25 May 2017 issued share capital on 25 basis that the full total interest
May 2017 GBP5,750,000 loan has been on the basis
utilised and all potential that the full
Convertible Loan GBP5,750,000
Securities are converted loan has been
utilised and
all potential
Convertible
Loan Securities
are converted
Roberto
Sella 14,700,000 11.27% 86,911,877 42.89%
Mike Pasternak 2,150,000 1.65% 2,150,000 1.06%
Total 16,850,000 12.92% 89,061,877 43.95%
For further information, please contact:
cloudBuy plc
David Gibbon, CFO Tel: 0118 963 7000
Arden Partners plc - Tel: 020 7614 5900
NOMAD and broker
William Vandyk / Patrick Caulfield
About cloudBuy plc
cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and
sellers - and brings them together to trade securely and ethically
via an increasing number of public eMarketplaces and private
purchasing portals around the world, powered by cloudBuy
technology. cloudBuy solutions for buyers help B2B purchasers
understand and control their spend, to reduce costs and increase
value. Our cloudSell solutions enable sellers of all sizes, from
startups to corporates, reach new customers and grow their
business.
cloudBuy's technology platform powers web sites, public
marketplaces and private purchasing portals that enable all types
of online interactions and relationships including, citizen and
business to government; consumer to business; and business to
business.
For more information, visit: www.cloudbuy.com .
This information is provided by RNS
The company news service from the London Stock Exchange
END
IODAAMFTMBBTMLR
(END) Dow Jones Newswires
May 25, 2017 02:21 ET (06:21 GMT)
Cloudbuy (LSE:CBUY)
Historical Stock Chart
From Sep 2024 to Oct 2024
Cloudbuy (LSE:CBUY)
Historical Stock Chart
From Oct 2023 to Oct 2024