Cloudcall Group PLC Update Re. Placing (7012L)
October 05 2016 - 2:00AM
UK Regulatory
TIDMCALL
RNS Number : 7012L
Cloudcall Group PLC
05 October 2016
5 October 2016
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
CloudCall Group plc
("CloudCall" or the "Company")
Further Re. Placing
CloudCall (AIM: CALL), a leading cloud-based software business
that integrates voice communications into CRM platforms, reports
that further to its announcement on 5 August 2016 regarding a
placing to raise up to GBP3.77 million, it has now received
clearance from HMRC confirming the Company qualifies for the
relevant tax reliefs in connection with the VCT/EIS Placing. The
Company will therefore benefit from the receipt of proceeds of
GBP1.57 million (net of expenses), in connection with the VCT/EIS
Placing.
The proceeds from the VCT/EIS placing will be used to fund new
product development, including the launch of a new messaging
products, based around SMS and instant messaging technologies. With
the launch of the new products, the Board believes that the Company
will be able to attract new customers by leveraging its experience
within the integrated communications market.
An application will be made for the VCT/EIS Placing Shares to be
admitted to trading on AIM ("Admission") and it is expected that
Admission will occur on Wednesday 12 October 2016. Following
Admission the Company will have 20,060,348 ordinary shares of 20p
each in issue, admitted to trading on AIM. This figure (20,060,348)
may be used by Shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company.
Unless otherwise defined, capitalised terms in this announcement
shall have the same meaning as those defined in the Circular to
shareholders detailing the Firm Placing and VCT/EIS Placing, dated
5 August 2016.
Simon Cleaver, CEO of CloudCall, commented:
"The clearance from HMRC and resulting additional funds, means
we can now move ahead with the development and launch of new
messaging and SMS services which will enhance our offering. We
believe these additional products will not only attract new
customers, but also enhance our offering with existing customers,
particularly in the recruitment space where we see significant
demand for these products."
For further information, please contact:
CloudCall +44 (0)20
Simon Cleaver Group plc 3587 7188
Cenkos Securities
(Nominated
Stephen Keys/Callum Davidson/Alex Adviser and +44 (0)20
Aylen Broker) 7397 8900
Ben Simons / Jeremy Garcia +44 (0)20
/ Fiona Henson Vigo Communications 7830 9701
About CloudCall Group Plc
CloudCall is a software and unified communications business that
has developed and provides a suite of cloud-based software and
telephony products and services. CloudCall's products and services
are aimed at enabling organisations to leverage their voice
communications more effectively. The CloudCall suite of products
allows companies to fully integrate their telephony systems into
their existing CRM software, enabling calls to be made, recorded,
logged and categorised from within the customer relationship
management (CRM) system with detailed activity reports capable of
being easily generated. The Company has approximately 90 staff
based predominantly in Leicester (UK) and Boston (US). The Company
currently has approximately 750 customers, equating to
approximately 13,300 users.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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