29th February 2016
CloudTag (CTAG:LN), the company that brings personal monitoring to the health, wellbeing and fitness markets, is pleased to announce that it has raised £215,000 pursuant to a subscription by Spreadex Limited for 11,684,783 new ordinary shares, representing 4.8 per cent. of the Company’s enlarged issued share capital, at a price of 1.84 pence per share (“Subscription Shares”). Funds raised will be used for general working capital purposes.
In addition, the Company has issued 7,250,000 new ordinary shares at a price of 1.675 pence per share in settlement of fees due to a third party consultant (“Fee Shares”) for business development activities in the UK and Europe.
Application will be made for the admission of the Subscription Shares and the Fee Shares to trading on AIM and it is expected that dealings in these shares will commence on or around 4 March 2016. The Subscription Shares and the Fee Shares will rank pari passu with the Company’s existing ordinary shares.
Following the issue of the Subscription Shares and the Fee Shares, the total number of ordinary shares in issue is 243,578,729. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.