13:28 Thu 16 Feb 2017
CloudTag Inc. - Conversion of £0.1 million Loan Notes
("
Conversion of
Issue of Warrants and Issue of Equity
Definitions used in this announcement are taken from the Company's announcements dated
Conversion of Loan Notes and Issue of Warrants
The
Under the terms of the Conversion the Company has also issued L1 with a warrant over 2,223,223 new ordinary shares in the Company with an exercise price the lower of:-
a) 90% of the closing bid price per ordinary share on the day immediately prior to the date of exercise of such warrants, or
b)
The terms of the Warrants are as stated in the Notes Announcements. Both the conversion price in respect of the Notes and exercise price in respect of the Warrants have been rounded down to the nearest
All of the Notes have now been converted.
Application will be made for the admission of the Conversion Shares to trading on AIM and it is expected that dealings in the Shares will commence on or around
Following the issue of the Conversion Shares, the total number of ordinary shares in issue will be 448,104,916. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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