CloudTag Inc. Clarification in respect of L1 warrant pricing (6493S)
22 Décembre 2016 - 4:17PM
UK Regulatory
TIDMCTAG
RNS Number : 6493S
CloudTag Inc.
22 December 2016
22 December 2016
CloudTag Inc.
("CloudTag" or the "Company")
Clarification in respect of L1 warrant pricing
CloudTag (CTAG:LN), the company that brings personal monitoring
to the wellbeing, fitness and digital health markets hereby
announces a clarification in respect of the warrant pricing
detailed in the notifications dated 14 November 2016, 23 November
2016 and 9 December 2016.
The warrant exercise price is the lower of:
a) 90% of the closing bid price on the trading day immediately
preceding the date on which the subscription form is delivered to
the Company, and
b) 125% of the closing bid price on the trading day immediately
preceding the conversion notice date (as defined in the convertible
securities deed) immediately preceding the date of issue of the
relevant warrant.
In each case the warrant exercise price will be rounded down to
the nearest GBP0.005 in accordance with the terms of the relevant
agreements.
This rounding down condition was not included in the Company's
notification dated 7 November 2016.
The Company's notifications dated 14 November 2016, 23 November
2016 and 9 December 2016 did not apply the rounding down to the
price in (b) above. When rounded down these prices are:
Notification dated 14 November 2016
b) 11.0 pence per share.
Notification dated 23 November 2016
b) 13.0 pence per share.
Notification dated 9 December 2016
b) 9.5 pence per share.
The rounding down will also apply to the price in (a) above when
known.
CloudTag Inc. +1 345 949 45 44
Amit Ben-Haim / Tony Reeves contact@cloudtag.com
UK Investor Relations +44 (0) 20 7052 8469
investors@cloudtag.com
Cairn Financial Advisers
LLP (Nominated Adviser)
Tony Rawlinson / Jo Turner +44 (0) 20 7213 0880
This information is provided by RNS
The company news service from the London Stock Exchange
END
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