RNS Number : 0583Z

Cloudbuy PLC

07 January 2020

   7 January 2020 

cloudBuy plc

("cloudBuy" or the "Company")

Fourth Interest Payment for New CLS

cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, announces that pursuant to the Financing announced on 8 December 2017 (New CLS) (as defined therein), with effect from 27 December 2019, 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 7 December 2017, has issued 26,438 convertible loan notes of GBP1 each to Robert Sella.

As at 7 January 2020, following the issue of these notes, Roberto Sella held the following convertible and non-convertible loan notes:

                Convertible loan  Non-convertible loan 
                           notes                 notes 
Roberto Sella          6,618,945             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 7 January 2020, 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 7 January 2020    issued share capital on                       basis      total assuming 
                                                          10 July 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 
                                                                            their final redemption 
                                                                              date (10 years after 
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: 0118 963 7000 
  Arden Partners plc - NOMAD and broker              Tel: 020 7614 5900 
  Paul Shackleton / Daniel Gee-Summons- Corporate 
   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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(END) Dow Jones Newswires

January 07, 2020 12:31 ET (17:31 GMT)

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