25th April 2017
Cloudtag (CTAG:LN), the company that brings personal monitoring to the wellbeing, fitness and digital health markets announces that, at the Annual General Meeting held earlier today, Resolution 2 was not put to the meeting and all other resolutions were passed. The Company wishes to advise shareholders that non-executive directors and shareholders Tony Reeves and Jerry Bereika have resigned. The Board has initiated the search for new directors with the requisite skills to match the Company’s future requirements.
Product and Strategy Update
Cloudtag is pleased to announce that it expects the factory-produced Onitor Track will be dispatched to the Company shortly. These devices will be delivered through our distributors to retailers with whom the Company is currently engaged. Cloudtag continues to adapt its proprietary software and is currently developing and testing a new mobile application (the “App”). The Company intends to hold a live demonstration for shareholders ahead of the retail launch, further details of which will be available on the website in due course.
Alongside our retail strategy, we have begun exploring potential growth opportunities within the medical healthcare and insurance industries, and we will undertake pre-clinical trials relating to weight loss in 2017. Furthermore, the Company has been exploring licensing opportunities to third parties in the automotive and garment industries through two dedicated Cloudtag Inc. subsidiaries.
Cloudtag can confirm that it will attend this year’s UK eHealth Week Exhibition on 3-4 May, which focuses on people and organisations that use the power of IT to transform healthcare, the event is organised in association with NHS England and NHS Digital.
We remain committed to acting in the best interests of our shareholders and will continue to communicate with them in a clear and transparent manner through the website.
Commenting, Amit Ben-Haim said: “We are proud to be taking delivery of the latest units of the Onitor Track, as this marks a significant milestone and is testament to the team’s continued hard work and commitment to a successful product. I would also like to take this opportunity to thank Tony and Jerry for their significant contributions to the Company.”