Crossword Cybersecurity PLC Shareholder Circular and Notice of AGM (3871F)
10 7월 2023 - 3:00PM
UK Regulatory
TIDMCCS
RNS Number : 3871F
Crossword Cybersecurity PLC
10 July 2023
Crossword Cybersecurity Plc
Shareholder Circular and Notice of GM
10 July 2023 - London, UK - Crossword Cybersecurity Plc
(AIM:CCS, "Crossword", the "Company" or the "Group"), the software
and services company focused on cyber security and risk, announces
that it has today published and is posting to shareholders a
circular convening a general meeting to take place on 27 July 2023
(the "Circular").
On 19th April 2023, the Company announced that it will need to
raise additional capital later this year as it continues to
progress towards cash break-even. As part of the preparation for
any such raise, which could include convertible loan notes, the
Board has noted that the Group is restricted in its borrowing to
GBP2m under its Articles. The Group currently has borrowings of
GBP2m and as such proposes to raise this limit.
At the general meeting, a resolution will be proposed to amend
the Articles to allow the Group to incur debt up to GBP4.5m, in
aggregate.
The Directors unanimously agree that amending the Articles to
enable the Group to borrow the greater of GBP4.5m and an amount
equal to 20% of the Adjusted Capital and Reserves is in the best
interests of the Company and its Shareholders as a whole.
Accordingly, the Directors unanimously recommend that Shareholders
vote in favour of the Resolutions as they intend to do in respect
of their own shareholdings which represent 15.9 per cent. of the
Company's voting rights.
The general meeting will be held at the offices of Shakespeare
Martineau LLP at 60 Gracechurch Street, London EC3V 0HR, United
Kingdom at 11:00 a.m. on 27 July 2023. A copy of the Circular will
be available on the Company's website,
https://www.crosswordcybersecurity.com/ .
- Ends -
Contacts
Crossword Cybersecurity plc - Tel: +44 (0) 333 090 2587
Email: info@crosswordcybersecurity.com
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
For media enquiries contact:
Financial PR:
David Hothersall, Kinlan Communications
davidh@kinlan.net - Tel: +44 (0) 207 638 3435
General:
Duncan Gurney, GingerPR
duncan@gingerpr.co.uk - Tel: +44 (0)1932 485 300
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 strategy and 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, 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/
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END
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