24 Aug 2016 10:30
24 August 2016
This announcement contains inside information
CloudCall Group plc
("CloudCall" or the "Company")
Result of General Meeting
CloudCall (AIM: CALL), a leading cloud-based software business that integrates voice communications into Customer Relationship Management (CRM) platforms, announces that all resolutions proposed at the General Meeting held earlier today were duly passed.
Accordingly, the Company is able to complete the Firm Placing to raise £2.13 million (before expenses) and also, conditional upon receipt of the requisite clearance from HMRC, complete the VCT/EIS Placing to raise additional proceeds of £1.64 million, as announced on 5 August 2016.
Peter Simmonds, Chairman of CloudCall, commented: "We are delighted with the institutional support we have seen in undertaking this transaction. We believe we are at an inflection point where the additional funding will enable us to capitalise on the strong pipeline of opportunities that exist by increasing our sales and marketing capacity, particularly in the US where we are seeking to leverage our important relationship with Bullhorn."
An application has been made for the 3,700,960 Firm Placing shares to be admitted to trading on AIM ("Admission"), which is expected to occur at 8.00 a.m. on 25 August 2016. Following Admission, the Company will have 17,205,827 shares in issue admitted to trading on AIM. This figure (17,205,827) may be used by Shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
A further announcement will be made by the Company in due course to provide an update on the status of the VCT/EIS Placing and the associated clearance by HMRC.
Capitalised terms in this announcement shall have the same meaning as those set out in the Circular published on 5 August 2016.
For further information, please contact:
Simon Cleaver | CloudCall Group plc | +44 (0)20 3587 7188
|
Stephen Keys/Callum Davidson/Alex Aylen
| Cenkos Securities (Nominated Adviser and Broker)
| +44 (0)20 7397 8900 |
Ben Simons / Jeremy Garcia / Fiona Henson | Vigo Communications | +44 (0)20 7830 9704 |
About CloudCall Group Plc
CloudCall is a software and unified communications business that has developed and provides a suite of cloud-based software and telephony products and services. CloudCall's products and services are aimed at enabling organisations to leverage their voice communications more effectively. The CloudCall suite of products allows companies to fully integrate their telephony systems into their existing CRM software, enabling calls to be made, recorded, logged and categorised from within the customer relationship management (CRM) system with detailed activity reports capable of being easily generated. The Company has approximately 90 staff based predominantly in Leicester (UK) and Boston (US). The Company currently has approximately 750 customers, equating to approximately 13,300 users.