LSE Regulatory News MORE NEWS

Trading Update for the year ending 31 December 2016
Dec 21, 2016
cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, is pleased to provide an update on trading for the year ending 31 December 2016.
read more
£1m Loan Drawn Down
Dec 02, 2016
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
read more
First Interest Payment
Oct 28, 2016
The first interest payment to be made to Roberto Sella has fallen due, and in accordance with the terms of the interest bearing loan note instrument dated 8 April 2016, has issued 13,877 convertible and 24,373 non-convertible loan notes of £1 each to Robert Sella.
read more
cloudBuy signs agreement with United Overseas Bank (“UOB”) to support accelerating growth into Asia region
Oct 13, 2016
cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, is pleased to announce that it has signed an agreement with UOB a leading bank in Asia, for its marketplace technology to power a new online marketplace for UOB customers.
read more
cloudBuy signs contract to power new FSB online marketplace
Aug 24, 2016
cloudBuy plc, the global provider of cloud-based ecommerce marketplaces and B2B buyer and supplier solutions, is pleased to announce that it has signed a contract with FSB to deliver a new online marketplace for FSB members.
read more

Result of Open Offer

Oct 11, 2013

RNS Number : 2613Q
@UK PLC
11 October 2013

 

@UK plc

("@UK" or the "Company")

RESULT OF OPEN OFFER

 

On 25 September 2013, the Board of @UK plc (AIM: ATUK) the cloud eCommerce marketplace, announced details of a proposed share issue to raise gross proceeds, in aggregate, of £5.3 million by way of (i) a firm placing of 10,000,000 New Shares at 33p per share to raise £3.3 million and (ii) an open offer of 6,064,500 New Shares to raise £2.0 million on the basis of 1 Open Offer Share for every 14 Existing Ordinary Shares, all of which had been placed by Westhouse either firm or conditionally (subject to clawback to satisfy valid applications under the Open Offer) with certain existing and new institutional and other investors at 33p per share.

Defined terms used in this announcement shall have the same meaning as those terms defined and used in the Circular of the Company dated 25 September 2013.

The Open Offer was made on a pre-emptive basis to Qualifying Shareholders.  Certain Qualifying Shareholders, including the Directors, agreed not to take up their entitlements under the Open Offer and these shares (amounting to 2,820,520 New Shares, referred to as the "Second Firm Placing Shares") were placed firm by Westhouse with new and existing institutional and other investors. The Second Firm Placing will raise approximately £0.93 million of the £2.0 million referred to above.  The Second Firm Placing has not been underwritten by Westhouse or any other person.

The balance of the Open Offer Shares (that is, the total Open Offer Shares less those Ordinary Shares that are the subject of the Second Firm Placing) have been conditionally placed by Westhouse (under the Clawback Placing) with new and existing institutional and other investors (including the Marlborough UK Micro-Cap Growth Fund) subject to clawback to satisfy valid applications under the Open Offer. The issue of the balance of the Open Offer Shares (being those that are placed subject to clawback) will raise approximately £1.07 million of the £2.0 million referred to above.

The Company has received valid acceptances in respect of 1,992,549 Open Offer Shares from Qualifying Shareholders. This represents approximately 61.4 per cent of the Open Offer Shares made available for applications from Qualifying Shareholders (that is less those Ordinary Shares that are the subject of the Second Firm Placing). All valid applications received from Qualifying Shareholders will be accepted in full.

The Second Firm Placing, Clawback Placing and the Open Offer remain conditional, amongst other things, upon the passing of the Resolution 1 at the General Meeting, to be held at 10.30 a.m. on 14 October 2013 and Admission occurring no later than 8.00 a.m. on 15 October 2013 (or such later time and/or date as the Company and Westhouse may agree, being no later than 5.30 p.m. on 31 October 2013).

Application has been made to the London Stock Exchange for the Open Offer Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on 15 October 2013. Following Admission, the Company will have 104,001,123 Ordinary Shares in issue.

The Open Offer Shares will, when issued and fully paid, rank pari passu in all respects with the Ordinary Shares in issue at that time, including the right to receive all dividends and other distributions declared, made or paid after the date of Admission of them.

 

For further information:

@UK 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 @UK PLC

@UK 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.

@UK 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

 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROIGMMMGNGFGFZM