16th Jun 2014 09:31
LONDON (Alliance News) - Cloudbuy PLC Monday said Chairman Ronald Duncan bought 30,000 shares at a price of 31.925 pence per share Friday.
Cloudbuy shares were trading at 33.88p, up 20% Monday morning.
Shares in the the e-procurement company have been in a downward trend since the end of April but have since rebounded. Cloudbuy said Monday it doesn't know why its share price has declined recently, and noted it is expecting to win a number of significant contracts in the next few months after its prospects and leads accelerated ahead of plan.
In a statement, the company said it is pursuing a number of significant opportunities in Australia, New Zealand, Hong Kong, China, India, South Africa, the US and Canada, along with major opportunities in the UK, specifically in education, defence, health and social services.
Following his recent transaction, Duncan holds an interest in 21 million shares, which represents 19.13% stake in the firm.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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