("cloudBuy" or the "Company")
Final Results for the year ended 31 December 2018, Funding Update, Share Incentives, Directorate Change and AGM date
1. Final results for the year ended 31 December 2018
2. Funding Update
In the Trading Update issued on 8 February 2019, we stated that the Company is engaged in 2 opportunities which if won would enable the Company to reach cash flow break even without further funding. One of these opportunities is still viewed as having a good likelihood of success, the other is now unlikely. As a consequence, the company has agreed to drawdown £500,000 from the existing facility with Roberto Sella, to be received in March 2019, with a potential further drawdown of £250,000 if the current likely opportunity does not materialise. The Board believe that this should provide adequate financing to enable the Company to achieve cash flow break even.
3. Issue of Share Incentives
i. Share Options
ii. Incentive Shares
4. Directorate Change
Patrick Broughton, Senior Non-Executive Director has given notice that, due to personal commitments, he intends to resign from the Board after the publication of the Annual Report and Accounts. David Chellingsworth will take up the position as Senior Non-Executive Director. A suitable replacement is currently being sought.
5. Publication of Report and Accounts and AGM notice
The report and accounts for the year ended 31 December 2018 and notice of Annual General Meeting ("AGM") will be distributed to shareholders today and will also be available on the website: investor.cloudbuy.com.
6. AGM Date
The Company's AGM will be held on 16 April 2019 at 11.00 am at its registered office, 5 Jupiter House, Calleva Park, Aldermaston, Berkshire RG7 8NN.
For further information, please contact:
cloudBuy plc David Gibbon, CFO Tel: 0118 963 7000
Arden Partners plc – NOMAD and broker Tel: 020 7614 5900
Paul Shackleton/ Daniel Gee-Summons – Corporate Finance Simon Johnson – Corporate Broking
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.