Cloudtag Share Discussion Threads

[wshak] 24/4/2017 10:43

Log,

It's interesting to follow the LSE board, where people still think there is some hope, and haven't yet realised what CTAG is. Apparently, there are experienced professionals who are shareholders and are involved in the SAG - it beggars belief.

[loglorry1] 24/4/2017 10:28

>Whatever the votes are at the EGM, they don't matter a toss.
Agree but it's interesting to follow nonetheless.

[wshak] 24/4/2017 10:26

Whatever the votes are at the EGM, they don't matter a toss.

The Board control the company, and they will do with it as they wish.

[loglorry1] 24/4/2017 10:10

Well Andy we'll see. The mere fact that Amit isn't taking the SAG seriously tells me that he doesn't think they will present him any problems.

[andy] 24/4/2017 09:38

Log,

I think the SAG will easily beat 10%, they have some decent size holders.

At one point they were boasting the AVERAGE shareholding amongst those in the SAG was 300,000, so, on that basis, they only need 40 of them to vote to win, and my guess is a lot more than 40 will vote.

The larger your holding the more you have to lose, so I would expect the largest holders to make the most effort to vote.

[andy] 24/4/2017 09:35

Nod,

Yes Osuna held 20% upon IPO, so they have been diluted with subsequent placings, and yes I would assume they are somehow connected to management too.

So round 10% shouldn't be too hard to beat, IMO, unlss Amit tries to disallow votes against on a technicality, but that would be risky as it would alienate the very people he needs onboard for future fund raisings.

So he may have to bite the bullet, accept defeat on resolution 5, and think of a new way of presenting it to shareholders.

I think the SAG will ultimately back him because a financing will be presented as a fait accompli, either invest more or lose what you have invested so far.

Interestingly, that's how the Nigerian 419 works too!

[andy] 24/4/2017 09:04

Nod,
Good question, I found this on an old FCA document:



3.20 For the purposes of paragraphs 3.18 and 3.19, shares will not be regarded as being held in public hands if they are held, directly or indirectly by:

(a) a director of the applicant or of any of its subsidiary undertakings;

(b) a person connected with a director of the applicant or of any of its subsidiary
undertakings;

(c) the trustees of any employees’ share scheme or pension fund established for the
benefit of any directors and employees of the applicant and its subsidiary
undertakings;

(d) any person who by virtue of any agreement has a right to nominate a person to
the board of directors of the applicant;
or
(e) any person who is interested in 5% or more of the shares of the relevant class,
unless the UK Listing Authority determines that, in all the circumstances, such
person can be includ

[loglorry1] 24/4/2017 09:04

So probably the number for the SAG to beat is around 10.2% votes against assuming Osuna is controlled by the board which is likely IMHO.

The problem the SAG have is that its a rag bag bunch of PIs many of whom still hold Amit in quite high regard. Most will contact their broker and their broker will tell them because it is not listed anymore it will be hard to vote unless they materialise their share certs and attend the AGM. Some brokers may manage it but I wouldn't hold your breath. Quite a few will just get bored with the hassle of complying with the formal voting process and give up.

We saw recently in BLVN where CoC held a large block there were extra regulations which meant that CoC had to keep BLVN informed with every single trade they had undertaken. If they had not then BLVN may not have counted their votes. Amit may decide the SAG are acting in concert to such an extent that the same process must be followed and if not discount their votes.

It's poss Res 5 gets blocked but I have my doubts. Furthermore, if it does there are plenty of ways for Amit to proceed.

[nod] 24/4/2017 05:41

The CloudTag site has major shareholders as at 18 February 2017Osuna remains the largest holder with just under 31 million shares 6.91%Amit holds around 15 million shares 3.37%We never discovered who the beneficiaries of Osuna are or where the company is registered.Osuna has the same shares as at IPO. It has not added or sold. All other founding shareholders are gone."Of the shares in issue 30,725,507 (6.86%) were considered not to be in public hands."What does this mean?

[andy] 23/4/2017 21:43

Do you now what percentage of shares Amit and co actually own?

If there are no institutions in the stock, many people not voting could work both ways, you seem to be assuming only people rejecting resolution 5 won't vote, whereas many people may not even vote a all..

I think the SAG as a group may achieve a no vote, but Amit will have something up his sleeve if that happens, he has to because he needs more other people's money!

It could be a quick demo showing a a working product, and then convince people to support him.

[loglorry1] 23/4/2017 20:33

A few might vote against but I doubt they'll get organised enough en masse. Now it's off Aim quite a few brokers probably won't properly allow voting. Amit will probably find some technically to void any votes against.

[andy] 23/4/2017 19:30

Log,

I don't "know", but many people have indicated they are voting no, and the SAG claims around 50% of the shares.

I agree,I don't think they own the IP either, so shareholders are screwed either way, IMO.

Amit holds all the aces here.................

[loglorry1] 23/4/2017 17:29

Well I think enough votes have already been passed to prevent resolution 5 by now

How do you know that?

If this is the case then ABH will just take a loan from a (probably related) third party secured on all the IP. To repay the loan he'll need auth to issue shares. He'll call an EGM with a resolution to do so. If they vote that one down too the company will default and lose all the IP (not that it has any anyway). With a gun to their heads they'll soon cave in if they haven't already do so.

Log

[bbmsionlypostafter] 23/4/2017 16:16

The mugs new guru, Brokerman1, is starting the campaign to take everything into a private chat room so those pesky de-rampers & the members of the international shorting conspiracy cannot continue to destroy this plucky British start up.

I would like to see a password entry area on the website for registered shareholders, that would be a direct way to update shareholders without fear of competitors looking in.

Confusingly he's asking ABH for more transparency in the preceding paragraph.

It is time for ABH to bring in transparency.

[knigel] 23/4/2017 15:33

So definitely no show of hands re resolution 5?
BTW don't forget Greece pole - not even bothered to go back on LSE unlike Ad-man..