TIDMCTAG

RNS Number : 7344G

CloudTag Inc.

10 August 2016

10 August 2016

CloudTag Inc.

("CloudTag" or the "Company")

Fundraise of GBP580,000

CloudTag (CTAG:LN), the company that brings personal monitoring to the wellbeing, fitness and digital health markets, announces that it has raised GBP580,000 through the issue of 10,000,000 new ordinary shares ("Shares") at a price of 5.8 pence per Share representing a premium of 5.45 per cent. to the mid-market closing price on 9 August 2016 of 5.5 pence ("the Subscription"). There are no commissions or expenses payable in relation to the Subscription and the proceeds of the Subscription will be used for general working capital purposes.

In addition, certain trade creditors of the Company have agreed that their outstanding invoices totalling GBP268,000 in respect to professional advisory services can be settled in shares. In this respect, the Company has also issued 4,620,691 new ordinary shares at a price of 5.80 pence per Share.

Application will be made for the admission for the 14,620,691 Shares to trading on AIM and it is expected that dealings in the Shares will commence on or around 16 August 2016. The Shares will rank equally in all respects with the Company's existing ordinary shares.

Following the issue of the Shares, the total number of ordinary shares in issue is 357,531,325. 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries

 
 CloudTag Inc.                       +1 345 949 45 44 
  Amit Ben-Haim                       contact@cloudtag.com 
 Cairn Financial Advisers LLP 
  (Nominated Adviser) 
  Tony Rawlinson / Jo Turner /       +44 (0) 20 7148 
  Rebecca Anderson                    7900 
 Tavistock Communications Limited 
  (Financial PR)                     +44 (0) 20 7920 
  Mike Bartlett / Andrew Dunn         3150

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOELFFLLTSIAIIR

(END) Dow Jones Newswires

August 10, 2016 02:00 ET (06:00 GMT)

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