RE: Late trades20 Feb 2022 19:03
Mon, 31st Jan 2022 07:00
RNS Number : 0595A
Cloudbreak Discovery PLC
31 January 2022
Cloudbreak Discovery Plc("Cloudbreak" or the "Company")
Cloudbreak Engages Group for Corporate Development Services
Cloudbreak Discovery Plc ("Cloudbreak") (LSE: CDL) is pleased to announce that it has entered into an agreement with OIG Overseas Investment Group Ltd. ("OIG"), for corporate development services which will include, financing and financial consulting, market intelligence, marketing of assets and projects, strategic partnerships and project generation, as well as investor awareness.
The agreement will be for an initial period of one year for which Cloudbreak will issue 58,000,000 ordinary shares (the "Shares") to OIG and certain associates.
Application will be made for the Shares to be admitted to trading, which is expected to be on or around 3rd of February 2022.
Kyler Hardy, President and CEO of Cloudbreak, stated, "We are delighted to be able to engage and partner with OIG for the next year. The decision to be issued shares in Cloudbreak in return for services demonstrates the confidence they have in our ability to grow and deliver shareholder value. The team brings extensive knowledge of corporate development and market awareness, which will be invaluable to Cloudbreak as we enter an exciting phase in our journey. I look forward to updating the market as we continue to execute our project generator model."
The Shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the Shares, the Company's issued share capital will comprise of 448,065,060 ordinary shares. This figure of 448,065,060 ordinary shares may be used by shareholders in 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.
I did a search and found the below but no more:
OVERSEAS INVESTMENT (GROUP) LIMITED was incorporated on 16-NOV-2007 as a Private company limited by shares registered in Hong Kong. The date of annual examination for this private company limited is between Nov 16 and Dec 27 upon the anniversary of incorporation. The company's status is listed as "Live" now.