31st December 2015
CloudTag (CTAG:LN), the company that brings personal monitoring to the health, wellbeing and fitness markets, announces that it has issued, in aggregate, 3,470,470 new ordinary shares in settlement of fees due to a director and third party consultants (“Fee Shares”) pursuant to their contracts, comprising:
· 1,188,117 new ordinary shares at an average price of 2.38 pence per share in settlement of director’s fees due to Amit Ben-Haim, CEO of the Company, under the terms of his employment contract. Following this issue of equity, Amit Ben-Haim is interested in 9,403,282 shares in the Company, representing 4.47 per cent. of the Company’s so enlarged issued share capital; and
· 2,282,353 new ordinary shares at an average price of 2.125 pence per share in settlement of fees dues to third party consultants.
Application will be made for the admission of the Fee Shares to trading on AIM and it is expected that dealings in these shares will commence on or around 8 January 2016.
Following the issue of the Fee Shares, the total number of ordinary shares in issue is 210,379,240. 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.