RNS Number : 4147V
27 October 2014
("cloudBuy" or the "Company")
cloudBuy plc (AIM: CBUY), the cloud eCommerce marketplace, announces that it was notified on 27 October 2014 that Ronald Duncan, Chairman of cloudBuy, has agreed to pledge up to 4,500,000 ordinary shares of 1 penny each in the Company ("Ordinary Shares") as security for a loan facility in connection with his house move.
There is no change to Mr Duncan's beneficial interest in the Company as a result of this agreement, which remains at 21,023,624 Ordinary Shares representing 17.53 per cent of the Company's issued share capital.
The shares will be returned to Mr Duncan when the loan is repaid at the end of the three year term. Under the terms of the facility the lender is contractually prohibited from short selling, lending or voting the shares during the term of the loan.
For further information, please contact:
Ronald Duncan, Chairman
Tel: 0118 963 7000
Westhouse Securities Limited
Tom Griffiths/Richard Johnson
Tel: 020 7601 6100
Caroline Forde/Robyn McConnachie/Alex White
Tel 020 7653 9850
About cloudBuy PLC
cloudBuy, formerly @UK, is a world-leading transactional cloud platform.
cloudBuy has used the platform to build world-leading business to business (B2B) ecommerce and e-procurement applications, which address the full range of buying and selling activities in an easy-to-use web and mobile digital experience. The platform is also used to build complementary applications such as content management, secure email and big data analysis.
To date, the applications have processed over $500 billion of spend, and are being used by leading organisations around the world to deliver savings, increase profits and improve services.
The applications are unique in delivering correct pricing in the complex world of B2B procurement, whilst being simple enough for anyone to use - to the extent that people with disabilities can easily use a Care marketplace version to buy their own social and health care.
For more information, visit www.cloudbuy.com
This information is provided by RNS
The company news service from the London Stock Exchange