20th March 2025
20th March 2025
As previously communicated, the DaaP and licence transactions are distinct legal agreements.
However, the DaaP announcement serves as a critical milestone for the release of the escrowed $50 million in licensing funds. As a result, the licence payment will be initiated simultaneously with the DaaP announcement, though the official notification may be issued in the following days.
The complexities involved in this process have made aligning the timelines particularly challenging, especially as the DaaP buyer’s monitoring platform incorporates several listed securities within its ecosystem, further reinforcing the strategic nature of this transaction.
While these delays have been beyond our control, we acknowledge them and sincerely apologise.
We are pleased to confirm that the handover process with the DaaP buyer is now underway. As part of this process, an additional payment of $4.5 million has been secured, bringing the total DaaP transaction value to $234 million. In addition, approval has been given to the buyer’s draft announcement, this highlights the strengths of our technology in pre- and post-operative patient care, monitoring, and overall well-being.
We will reach a definitive conclusion for both transactions by 15th April 2025.
In the next few days, the company will provide a further update on the number of shares in issue and the price per share for the Daap transaction.
The company remains bound by strict non-disclosure agreements.
All updates and information are exclusively available on www.cloudtag.com.