By Nigel Somerville, The Deputy Sheriff of AIM | Thursday 27 November 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Cloudbuy (CBUY) previously announced on 27 October 2014 that Chairman Ronald Duncan was taking a loan secured against ‘up to’ 4,500,000 shares in order to fund a house move. Then on 12 Nov 2014, in the teeth of the furore in the wake of being outed by Shareprophets that this was an Equities First deal, Cloudbuy ‘clarified’ that this ‘loan’ was in fact a sale and repurchase agreement and that Mr Duncan intended to complete the transfer of the remaining 2.25 million shares to EFH. Now Cloudbuy has this morning announced that:
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