TIDMCTAG

RNS Number : 2326R

CloudTag Inc.

07 December 2016

7 December 2016

CloudTag Inc.

("CloudTag" or the "Company")

Movement in Share Price

CloudTag (CTAG:LN), the company that brings personal monitoring to the wellbeing, fitness and digital health markets, notes the recent movement in the Company's share price.

The Company confirms that there is no further information to be updated to the market since its announcement of 5 December 2016. The definitions used in this announcement are taken from the Company's announcement dated 7 November 2016 and the Circular issued on 24 November 2016 unless otherwise stated below.

As previously announced, the Company has received an indicative, non-binding order from Second Chance for GBP880,000 subject to manufacturing and delivery date being agreed. To date, there have been no further orders and no manufactured stock has been received in the UK. There is no change to the Company's expectation of receiving its first consignment of stock in the UK later this month. The Company confirms that it has not recognised any revenue in respect of this order.

Further to the announcement of 28 November 2016, the Company has now received GBP2.08 million in respect of the issue of the Tranche 1 Notes to L1 and the release of the Escrow Amount. Subject to the outcome of the extraordinary general meeting to be held on 12 December 2016, the Company expects to issue the Tranche 2 Notes (being GBP1.8m before expenses). These monies, together with previously raised funding, are expected to meet the Company's immediate working capital needs. It should however be noted that until such time as sufficient revenues are generated by the Company, for which there can be no certainty that this will occur, the Company will continue to require further funding.

The Company is currently renewing its product brand names and is planning on announcing a new brand name in December.

A further announcement will be released if and when there are further developments to be notified.

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         +44 (0) 20 7213 
  Turner                      0880 
 Tavistock Communications 
  Limited (Financial 
  PR) 
  Mike Bartlett, Andrew      +44 (0) 20 7920 
  Dunn                        3150

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBUBDDSGGBGLR

(END) Dow Jones Newswires

December 07, 2016 10:05 ET (15:05 GMT)

Cloudtag (LSE:CTAG)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024 Plus de graphiques de la Bourse Cloudtag
Cloudtag (LSE:CTAG)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024 Plus de graphiques de la Bourse Cloudtag