7 February 2023 – London, UK - Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the cybersecurity solutions company focused on cyber strategy and risk, announces that the Company is issuing 261,791 new ordinary shares of 0.5 pence each (“Ordinary Shares”) in respect of deferred acquisition of £50,000 for the acquisition of Stega UK Limited (announcement dated 9 August 2021). The consideration shares have been issued at the preceding three-month average price of 19.10 pence per share. In addition, £80,000 consideration is payable in cash. Total consideration payable eighteen months following completion is therefore £130,000.
The Company is in the process of determining whether an 18 month performance fee will be payable and a further announcement will be made in due course.
Settlement and dealings
Application will be made for the admission of the 261,791 new Ordinary Shares to admission to trading on the AIM Market of the London Stock Exchange (“AIM”). It is expected that admission will become effective and that dealings in the new ordinary shares will commence at 8.00 a.m. on or around 9 February 2023 (“Admission”).
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Crossword will have 92,665,506 Ordinary Shares in issue with voting rights attached. Crossword holds no shares in treasury. The figure of 92,665,506.
Ordinary Shares represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the DTRs.
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The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Crossword Cybersecurity plc – Tel: +44 (0) 333 090 2587
Tom Ilube, Chief Executive Officer
Mary Dowd, Chief Financial Officer
Grant Thornton (Nominated Adviser) – Tel: +44 (0) 20 7383 5100
Colin Aaronson / Jamie Barklem / Ciara Donnelly
Hybridan LLP (Broker) – Tel: +44 (0)203 764 2341
Claire Louise Noyce
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About Crossword Cybersecurity plc
Crossword offers a range of cyber security solutions to help companies understand and reduce cyber security risk. We do this through a combination of people and technology, in the form of SaaS and software products, consulting, and managed services. Crossword’s areas of emphasis are cyber security strategy and risk, supply chain cyber, threat detection and response, and digital identity and the aim is to build up a portfolio of cyber security products and services with recurring revenue models in these four areas. We work closely with UK universities and our products and services are often powered by academic research-driven insights. In the area of cybersecurity strategyand risk our consulting services include cyber maturity assessments, industry certifications, and virtual chief information security officer (vCISO) managed services.
Crossword’s end-to-end supply chain cyber standard operating model (SCC SOM) is supported by our best-selling SaaS platform, Rizikon Assurance, along with cost-effective cyber audits, security testing services and complete managed services for supply chain cyber risk management. Threat detection and response services include our Nightingale AI-based network monitoring, Nixer to protect against application layer DDoS attacks, our Trillion and Arc breached credentials tracking platforms, and incident response. Crossword’s work in digital identity is based on the World Wide Web Consortium W3C verifiable credentials standard and our current solution, Identiproof, enables secure digital verification of individuals to prevent fraud.
Crossword serves medium and large clients including FTSE 100, FTSE 250 and S&P listed companies in various sectors, such as defence, insurance, investment and retail banks, private equity, education, technology and manufacturing and has offices in the UK, Poland and Oman. Crossword is traded on the AIM market of the London Stock Exchange.
Visit Crossword at https://www.crosswordcybersecurity.com/