1st June 2023
The Company assures shareholders in line with 30th March update that both license and DaaP deals are completed. The buyer is committed to the Company for the DaaP sale.
The proceeds from completion of license deal are in the escrow account.
The proceeds arising from these both sales will be distributed only on the announcement of DaaP sale from the buyer as they are interlinked.
The Company’ DaaP constitutes an important part in the “digital ecosystem” which the buyer has developed over the last few years. The buyer has requested additional time to reveal the complete product platform to the wider market.
DaaP sale announcement will be made by during week ending 7th July 2023. The Company is working diligently to consider an earlier announcement date.
Following the announcement, the agent details will be published on the company website who will facilitate distribution of funds to all the shareholders.
Post DaaP announcement by the buyer there are no additional steps to be undertaken by the Company before funds distribution to shareholders. We expect the fund distribution process to be fulfilled within 4 weeks.
The Company would like to thank our valuable shareholders for their continued support and patience.
The Company remains under strict non-disclosure agreements.
All further updates will be published on www.cloudtag.com