15 October 2024
Crossword
Cybersecurity Plc
("Crossword", the "Company" or the "Group")
Update on
Sale of Underlying Businesses and Assets
Resignation of Nominated Adviser
On Friday 11th October, the Company
announced that it had appointed Knight Corporate Finance Limited to
manage the Proposed Sale of the underlying businesses and assets of
the Company. Since this announcement the Company has received a
positive level of interest in its underlying businesses and assets
from several potential acquirers. Discussions are ongoing with
these parties and the Board expects to make decisions within the
coming week on the most effective way of maximising value for
creditors.
In parallel, Grant Thornton UK LLP
has resigned as Nominated Adviser effective 14th October. The Board
does not anticipate appointing a new Nomad at this time, given the
intention to sell the underlying business and assets of the Company
within the next few weeks. However, it will
consider appointing a new Nomad if it decides that the business or
parts of the business are to remain on AIM.
Pursuant to Rule 1 of the AIM Rules
for Companies, if a replacement Nominated Adviser is not appointed
within one month of today's date, the admission of the Company's
shares to trading on AIM will be cancelled.
- Ends
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Contacts
Crossword Cybersecurity plc -
Tel: +44 (0) 333 090 2587
Email:
info@crosswordcybersecurity.com
Stuart Jubb, Chief Executive
Officer
Hybridan LLP (Broker) - Tel:
+44 (0) 203 764 2341
Claire Louise Noyce
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™ suite of threat intelligence
products, Trillion Breach, Harvista and Arc 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's ordinary shares are admitted to trading on the AIM
market of the London Stock Exchange.
Visit Crossword
at https://www.crosswordcybersecurity.com/
