CTAG Cloudtag

TIDMCTAG

RNS Number : 8758K

CloudTag Inc.

27 September 2016

27 September 2016

CloudTag Inc.

("CloudTag" or the "Company")

Proposed Subscription of GBP550,000

CloudTag (CTAG:LN), the company that brings personal monitoring to the wellbeing, fitness and digital health markets, announces a proposed subscription (the "Subscription") of GBP550,000 through the issue of 3,548,388 new ordinary shares ("Shares") at a price of 15.5 pence per Share being the mid-market closing price on the 26 September 2016 ("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. The Company has received non-binding indications of interest from potential investors for the Subscription during a pre-marketing process.

Assuming that the Shares are fully subscribed for, application will be made for the admission for the 3,548,388 to trading on AIM and it is expected that dealings in the Shares will commence on or around 3 October 2016. The Shares will rank equally in all respects with the Company's existing ordinary shares. A further update announcement will be made in due course.

The Market Abuse Regulation ("MAR") became effective from 3 July 2016. Market Soundings, as defined in MAR, were taken in respect of the proposed Subscription with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a Market Sounding are no longer in possession of inside information relating to the Company and its securities.

Enquiries

 
 CloudTag Inc.                       +1 345 949 45 44 
  Daniel Fry                          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

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September 27, 2016 02:01 ET (06:01 GMT)

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