Appointment of Finance Director

17th July 2015

CloudTag (CTAG:LN), the company that brings personal monitoring to the health, wellbeing and fitness markets, is pleased to announce that Mr John Wakely has been appointed to the Board of Directors as Finance Director with immediate effect and will be located at CloudTag’s office in Hamilton, Bermuda.

John served from January 2002 until his retirement in December 2013 as Executive Vice President of Stolt-Nielsen Limited (NO:SNI), a world leading integrated transportation, storage and distribution service provider for chemicals and other bulk liquid products with a market cap of US$1.1 billion. John was responsible for tax planning, internal audit and legal structure. He has been retained as the Stolt-Nielsen Limited Board Secretary and also serves as Chairman of Stolt Tank Containers Leasing Ltd. He joined Stolt-Nielsen Limited in 1988 and held various positions in the controllership, internal auditing and tax planning areas. He is also Chairman and a Director of Fiducia Ltd and of International Beverage Trading Limited a subsidiary of Thai Beverage, one of Southeast Asia’s largest beverage companies. John was previously employed by BP International in various accounting roles and is a member of the Chartered Institute of Management Accountants.

Mike Hirschfield, who has until now acted as Interim Finance Director for the Company, has stepped down as a Director of the Company with immediate effect to focus exclusively on his other roles. The Board would like to thank Mike for his significant contribution to the Company during the formative stages of its development and wishes him well in his other endeavours. Pursuant to the arrangements with Mike Hirschfield on his resignation, the Company will issue him 1,600,000 new ordinary shares at a price of 2.25 pence per share in settlement of £36,000 of outstanding fees owed. Mike has agreed with the Company not to dispose of any of the 1,600,000 new ordinary shares for a period of 9 months until 16 April 2016.

Application will be made for the admission of the 1,600,000 new ordinary shares to trading on AIM and it is expected that dealings in these shares will commence on or around 24 July 2015. These shares represent 0.78 per cent. of the Company’s so enlarged share capital and will rank equally in all respects with the Company’s existing ordinary shares. Following the issue of the shares, the total number of shares in issue will be 204,202,585. 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.

Amit Ben-Haim, CEO, commented: “I am delighted to welcome John to the board as Finance Director. John’s vast knowledge and experience in relation to financial structuring and tax planning will be invaluable in our situation as an international company. I would like to thank Mike for his diligent service since the inception of the Company and wish him all best in the future.”

Further information pursuant to schedule 2(g) of the AIM Rules is set out below.

John Gregson Wakely, age 67, holds, or has held in the last 5 years, the following directorships and partnerships:

Current directorships and partnerships as at the date of appointment

  • Andanama Garden SA
  • Amanda Garden SA
  • Fiducia Limited
  • Hotel Lanzarote SA
  • International Beverage Trading Limited
  • Marlow Insurance Limited
  • MCSF Limited
  • Optimum Logistics Limited
  • Red Volcano SA
  • Revelution Acquaculture LLC
  • Stolt-Nielsen Finance Limited
  • Stolt-Nielsen Gaz Limited
  • Stolt-Nielsen Group Resources Limited
  • Stolt-Nielsen Holdings BV
  • Stolt-Nielsen Indian Ocean
  • Stolt-Nielsen Investments NV
  • Stolt-Nielsen Norway AS
  • Stolt-Nielsen MS Limited
  • Stolt-Nielsen Ship Finance Limited
  • Stolt Tank Containers BV
  • Stolt Tank Containers Leasing Limited
  • Stolt Tankers Holdings Limited
  • Urena Mountain SA

Directorships and partnerships for the five year period prior to appointment

  • Anthony Radcliffe Steamship Company Limited
  • Avance Gas Holding Limited
  • Stolthaven Daganham Limited

Mr Wakely does not hold any shares in the Company.

Cloudtag Inc. Amit Ben-Haim +1 345 949 45 44
UK Investor Relations. +44 (0) 20 7052 8469