Source - SMW
cloudBuy has  announced that Roberto Sella, who has already provided significant financial support to the company, has agreed to subscribe for up to a further £3,400,000 e loan notes similar to those issued by the company in April 2016.

On 26 Apr 2016, the company created secured loan notes in the aggregate principal amount of £5.75m. 

It is now proposed that new convertible secured loan notes of £1.00 par value each in the aggregate principal amount of £3.4m will be created and an initial tranche in the principal amount of £1.7m issued. 

The New CLS attract an annual interest charge of 2.33%, which can be met in cash or by the issue of additional New CLS and will be convertible at a price of 2p per share into new ordinary shares.

The proceeds of the financing will be used to provide working capital to the business.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.