25 May 2017 07:21
Embargoed for 7:00am release | 25 May 2017 |
cloudBuy plc
("cloudBuy" or the "Company")
£1,475,700 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 £1,475,700 of the total £5,750,000 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 £1 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 £1 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 capital on 25 May 2017 | Percentage interest in issued share capital on 25 May 2017 | Total interest on the basis that the full £5,750,000 loan has been utilised and all potential Convertible Loan Securities are converted | Percentage total interest on the basis that the full £5,750,000 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 - NOMAD and broker | Tel: 020 7614 5900 |
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 .