Cloudbuy PLC Fourth Interest Payment (5934P)

TIDMCBUY

RNS Number : 5934P

Cloudbuy PLC

30 May 2018

 
 Embargoed for 7:00am release   30 May 2018 
 

cloudBuy plc

("cloudBuy" or the "Company")

Fourth Interest Payment

cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, announces that pursuant to the Financing announced on 24 March 2016 (as defined therein), with effect from 26 April 2018, the fourth interest payment to be made to Roberto Sella has fallen due, and in accordance with the terms of the interest bearing loan note instrument dated 8 April 2016, has issued 24,878 convertible and 43,694 non-convertible loan notes of GBP1 each to Robert Sella.

As at 30 May 2018 following the issue of these notes, and including 1,700,000 new notes issued on 27 December 2017 (New CLS), Roberto Sella held the following convertible and non-convertible loan notes:

 
                Convertible  Non-convertible 
                 loan notes   loan notes 
Roberto Sella   5,952,660     1,718,118 
 

The following details are required to be disclosed to comply with the conditions of The Takeover Code pursuant to the Financing. Mike Pasternak who is a director of cloudBuy is deemed to be acting in concert with Roberto Sella for the purposes of the Takeover Code.

As at 30 May 2018, the holdings of Roberto Sella and Mike Pasternak are as follows:

 
 Shareholder        Interest in issued share       Percentage interest in           Total interest on       Percentage 
                      capital on 30 May 2018   issued share capital on 30          the basis that the   total assuming 
                                                                 May 2018        further GBP1,700,000         no other 
                                                                                    New CLS available         ordinary 
                                                                                   under the facility           shares 
                                                                                    are issued in the       are issued 
                                                                                   future and all CLS 
                                                                                  including PIK notes 
                                                                            are converted immediately 
                                                                                   before their final 
                                                                                  redemption date (10 
                                                                                   years after issue) 
Roberto Sella                     14,700,000                       11.27%                 301,204,965           72.24% 
Mike Pasternak                     2,150,000                        1.65%                   2,150,000            0.52% 
Total                             16,850,000                       12.92%                 303,354,965           72.76% 
 

For further information, please contact:

 
  cloudBuy plc 
 
   David Gibbon, CFO        Tel: [phone] 
 
  Arden Partners plc -    Tel: [phone] 
   NOMAD and broker 
  Paul Shackleton 
 
 

About cloudBuy plc

cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers - and brings them together to trade securely and ethically via an increasing number of public eMarketplaces and private purchasing portals around the world, powered by cloudBuy technology. cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from startups to corporates, reach new customers and grow their business.

cloudBuy's technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business.

For more information, visit: www.cloudbuy.com .

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May 30, 2018 02:00 ET (06:00 GMT)