REG - Crossword Cybersec - Business and assets sale update. Nomad resignation

Crossword CybersecurityAnnouncement

15/10/2024 16:45

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RNS Number : 2996I  Crossword Cybersecurity PLC  15 October 2024

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 -

 

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/
(https://www.crosswordcybersecurity.com/)

 

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