The Board of cloudBuy plc (AIM:CBUY), the eCommerce marketplace, notes the recent downward trend in the Company’s share price, and is not aware of any business reason for the drop in value. The Company is performing strongly and is ahead of plan in terms of prospects and leads.
There are a number of significant opportunities being pursued in Australia, New Zealand, Hong Kong, China, India, South Africa, USA and Canada along with major opportunities in the UK, specifically in Education, Defence, Health and Social Services. Whilst it is difficult to predict timings the directors expect a number of significant contract wins in the next few months.
Chairman of cloudBuy, Ronald Duncan said: "I am delighted with the progress we have made since we raised the £ 5 million in October 2013. Last week we visited a major multinational who believes that our marketplace model is the future of procurement, and I expect to see a take off in our contract wins shortly."
Ronald Duncan, Chairman
Tel: 0118 963 7000
Westhouse Securities Limited
Tom Griffiths / Richard Johnson
Tel: 020 7601 6100
Caroline Forde/Robyn McConnachie
Tel: 020 7653 9850
About cloudBuy PLC
cloudBuy, formerly @UK, is the world's leading transactional Cloud Platform.
cloudBuy has used the platform to build world leading B2B ecommerce and eprocurement applications which address the full range of buying and selling activities, in an easy to use web and mobile experience, along with other cloud based applications including Content Management, email and big data analysis.
The applications have already managed over $500 billion of spend and are being used by leading organisations around the world to deliver savings and improved services.The applications are unique in delivering correct pricing in the complex world of B2B whilst being easy enough to use that the people with difficulties can use the system to buy their own social and health care.