LONDON (Alliance News) - Wearable technology company CloudTag Inc on Thursday said it has issued a total of 3.5 million shares to settle fees owed to its chief executive and to third-party consultants.
The firm has issued 1.2 million shares to Chief Executive Officer Amit Ben-Haim at 2.38 pence per share under the terms of his contract. The issue brings his total holding in the company up to 9.4 million shares, or a 4.5% stake in the business.
The company also issued 2.3 million shares at 2.125p per share to settle fees owed to third-party consultants.
CloudTag shares closed at 2.00p on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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