RNS Number : 0382B

Cloudbuy PLC

27 January 2020

27 January 2020

cloudBuy PLC

("Cloudbuy" or the "Company")

Result of General Meeting

cloudBuy, the global provider of cloud-based eCommerce marketplaces and B2B buyer and supplier solutions, announces that at its General Meeting, held at 11.00am today, all the resolutions proposed in the Notice of Meeting were passed. Full details of the total number of votes received for each resolution are set out below.

Consequently, as contemplated in the Company's circular dated 9 January 2019 (the "Circular") and its announcement of the same date, the last day of dealings in Cloudbuy's Ordinary Shares will be 6 February 2020, and at 7:00am on 7 February 2020 the admission to trading on AIM of Cloudbuy's Ordinary Shares will be cancelled. Also, as contemplated, the Company will apply to the Registrar of Companies for the Company to be reregistered as a private limited company.

Further details of the Cancellation and Reregistration are set out in both the Circular and announcement referred to above. Capitalised terms used but not defined in this announcement have the meaning given to them in the Circular. A copy of the Circular is available on the Company's website, https://investor.cloudbuy.com/documents-relating-to-cancellation.html.

The voting was as follows:

 Special resolutions                                                  FOR            AGAINST        WITHHELD 
  1. In accordance with Rule 41 of the AIM 
   Rules for Companies, the cancellation of 
   the admission to trading on AIM (the market 
   of that name operated by the London Stock 
   Exchange plc) of the ordinary shares of 0.1p 
   each in the capital of the Company be and                     66,915,866         21,272,073 
   is hereby approved and the directors of the                    votes                votes 
   Company be authorised to take all action                       75.88% of          24.12% of 
   reasonable or necessary to effect such cancellation.           those voting     those voting        0 
                                                                ---------------  ---------------  ----------- 
                                                                 66,915,866         21,272,073 
            2. The Company: be re-registered as a private         votes                votes 
             limited company with the name of cloudBuy            75.88% of          24.12% of 
             Limited; and adopt new articles of association.      those voting     those voting        0 
                                                                ---------------  ---------------  ----------- 
            Ordinary Resolutions 
             3. The directors be given authority to authorise    65,672,611         9,677,419      11,837,909 
              matters giving rise to an actual or potential       votes                votes          votes 
              conflict                                            87.16% of          12.84% of 
                                                                  those voting     those voting 
                                                                ---------------  ---------------  ----------- 
             4. To authorise the Directors to allot shares       65,672,861         9,652,169      12,087,909 
              or grant rights to subscribe for or to convert      votes                votes          votes 
              any security into shares pursuant to section        87.19% of          12.81% of 
              551 of the Companies Act 2006 (the "Act").          those voting     those voting 
                                                                ---------------  ---------------  ----------- 
 Special resolution 
  5. To dis-apply the pre-emption provisions                     65,672,611       9,652,169        11,863,159 
   of section 561(1) of the Act.                                  votes            votes            votes 
                                                                  87.19%           12.81% 
                                                                ---------------  ---------------  ----------- 

Note votes withheld are not included in the percentage of the voting calculations

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 

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(END) Dow Jones Newswires

January 27, 2020 09:09 ET (14:09 GMT)

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