SOURCE: Cloud Centric Systems, Inc.

December 15, 2010 08:15 ET

Cloud Centric Systems, Inc. Announces Reduction in Issued Share Capital

CLDR Officers Retire Their Common Stock & Announce a Reduction in the Authorised Share Capital

LONDON--(Marketwire - December 15, 2010) -  Cloud Centric Systems, Inc. (PINKSHEETS: CLDR) announces that its Executives are to retire their Common Stock and lock themselves in to the business with preferred shares that cannot be converted until 2012. The leading executives at Cloud Centric are returning their common shares to the treasury and are increasing their continued commitment to the business by taking 'locked in' Preference shares in exchange.

"Naturally, our first priority is to our shareholder base and, as such, we are removing any common shares the officers in the business have and locking them into additional years ensuring the business continues to flourish under their guidance," stated David Lovatt, CEO of Cloud Centric Systems, Inc.

"Equally as importantly, Cloud Centric will also be decreasing the Authorised Share Capital in Q1 2011 to further give shareholders and potential investors the message that dilution is not part of the plan," continued David Lovatt.

Cloud Centric Systems, Inc. recently announced that its strategy to increase shareholder value took its first step with the raising of the status from "Stop -- No Information" to "Yield -- Limited Information." It also stated that it plans to upload its end of quarter Information & Disclosure Statement when the time comes at the end of December.

About Cloud Centric Systems:
Cloud Centric Systems specializes in cloud based technologies that use the Internet to deliver business critical applications via a global network of partners. Cloud Centric Systems plans to grow via strategic acquisition over the coming 12 months as well as strong sales through its subsidiaries, Cloud Centric (UK) and VizualMobile Ltd.

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Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

Contact Information

  • Contact:
    Cloud Centric Systems, Inc.
    1 (347) 404 5346