CROSSWORD RAISES £1.5M TO PURSUE CYBER SECURITY INTELLECTUAL PROPERTY TRANSFER DEALS

The Directors of Crossword are delighted to announce that pursuant to a placing it has raised GBP 1,500,000 As a result 789,474 Ordinary shares of 5 pence each has been issued at a consideration of 190 pence per share.

Tom Ilube, Chief Executive Officer of Crossword, said “We are delighted to have received investment both from existing and a number of new investors, including well-known private equity investor Jon Moulton, and I am delighted to welcome the new shareholders to the Company.

The Board are excited by the prospects of the next phase of development for the Company that this placing provides a platform for.

Commenting on the investment Jon Moulton, who participated via his family office, said “Cyber security is a rapidly growing sector. Crossword’s IP transfer model of leveraging the best of British university research in this area is very exciting.”

The total issued share capital is now 2,383,408 Ordinary shares of 5 pence each.

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