Cloudbuy PLC Seventh Interest Payment (1905S)

TIDMCBUY

RNS Number : 1905S

Cloudbuy PLC

04 November 2019

 
   4 November 2019 
 

cloudBuy plc

("cloudBuy" or the "Company")

Seventh 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 (Existing Loan Notes) (as defined therein), with effect from 26 October 2019, the seventh 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 25,898 convertible and 45,486 non-convertible loan notes of GBP1 each to Robert Sella.

As at 4 November 2019, following the issue of these notes, and including 2,263,182 New CLS, Roberto Sella held the following convertible and non-convertible loan notes:

 
                Convertible loan  Non-convertible 
                 notes             loan notes 
Roberto Sella   6,592,506          1,852,767 
 

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 4 November 2019, the holdings of Roberto Sella and Mike Pasternak are as follows:

 
 Shareholder     Interest in issued share   Percentage interest in     Total interest on the        Percentage 
                 capital on 4 November      issued share capital on 4  basis                         total assuming 
                 2019                       November 2019              that the further              no other ordinary 
                                                                       GBP1,200,000                  shares are 
                                                                       New CLS available under       issued 
                                                                       the facility are issued 
                                                                       in the 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 & COO                            Tel: [phone] 
 
  Arden Partners plc - NOMAD and broker              Tel: [phone] 
  Paul Shackleton / Daniel Gee-Summons- Corporate 
   Finance 
   Simon Johnson - Corporate Broking 
 

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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November 04, 2019 09:00 ET (14:00 GMT)