CloudCall gets HMRC placing clearance

CloudCall has received clearance from HMRC confirming that the company qualifies for tax reliefs in connection with the VCT/EIS placing announced on 5 August to raise up to £3.77m.

The company will therefore benefit from the receipt of proceeds of £1.57 million (net of expenses), in connection with the VCT/EIS placing.

The proceeds from the VCT/EIS placing will be used to fund new product development, including the launch of a new messaging products, based around SMS and instant messaging technologies.

With the launch of the new products, the board believes that the company will be able to attract new customers by leveraging its experience within the integrated communications market.