8th July 2024
8 July 2024
Following the Company’s DaaP updates, shareholders are reminded that the DaaP and licence transactions are separate. The DaaP transaction follows the licence transaction. Additionally, each transaction is with a different party through separate paying agents.
Very recent discussions about the timing of the DaaP announcement mean that the Company will now need to reschedule the notification of licence fee proceeds by several days, and the Company will update shareholders about this accordingly.
The DaaP transaction is with a large international healthcare company and our technology will be deployed as part of its pre-operative and post-operative patient care strategy.
With respect to the payments, the licence fee is $50million and the DaaP fee, including the extra payment, as notified before is $229.5million.
As a result of the DaaP-related discussions, the Company expects to reach a smooth conclusion to both of these transactions during July 2024. The Company recognises that the licence fee notification process was due to commence today. However, with the DaaP transaction now due for announcement in July, it was necessary to pause these notifications.
The Company remains under strict non-disclosure agreements. All further updates will be published on www.cloudtag.com