RNS Number : 0324W
19 December 2013
("cloudBuy" or the "Company")
ISSUE OF EQUITY,
TOTAL VOTING RIGHTS
cloudBuy PLC (AIM: CBUY) the cloud eCommerce marketplace today announces the issue of 1,739,251 new ordinary shares of 1p each in the Company ("Ordinary Shares") in relation to:
(1) 89,251 new shares pursuant to the exercise by certain cloudBuy employees of options to subscribe for Shares at 1.75p, and
(2) 150,000 new shares pursuant to the exercise by certain cloudBuy employees of options to subscribe for Shares at 3.5p, and
(3) 1,500,000 new shares, as a result of the exercise of 1,500,000 warrants at 2p each.
Application will be made for the admission to trading on AIM ("Admission") of the 1,739,251 new Shares detailed above, and Admission is expected to occur on 27th December 2013.
Following Admission, the Company shall have 108,930,350 Ordinary Shares in issue, each with voting rights (which figure 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules).
For further information:
cloudBuy PLC Tel: 0118 963 7000
Ronald Duncan, Chairman
Westhouse Securities Limited Tel: 020 7601 6100
Tom Griffiths/Richard Johnson
Newgate Threadneedle Tel 020 7653 9850
Caroline Evans-Jones/Alex White
About cloudBuy PLC
cloudBuy is Europe's leading transactional Cloud Platform with over 1 million users. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading. The technology is unique in the B2B market, in that it delivers the B2C internet shopping experience in a business environment. The platform has been rebranded to cloudBuy.com for global expansion with Visa and partner banks. The platform is PCI DSS accredited, providing secure, integrated financial transactional capability, delivering savings to both the buyer and the supplier through greater accounts payables accuracy, reduction of manual processes and elimination of paper.
cloudBuy provides an immediate business case using SpendInsight. SpendInsight was developed to recognize, match and classify products and services, providing buyers with greater visibility to spend data, and supports the identification of cashable savings, through unique product level matching artificial intelligence. The output from this is then passed to the Visa member bank, for analysis by Visa to identify which suppliers accept card payments currently and compute the potential card rebate to fund the B2B ecommerce platform.
For more information, visit www.cloudbuy.com
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