REG - Narf Industries PLC - Director's Loan Extension

Narf IndustriesAnnouncement

20/06/2025 07:00

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RNS Number : 6686N  Narf Industries PLC  20 June 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

20 June 2025

NARF INDUSTRIES PLC

("Narf", the "Company", or the "Group")

 

Director's Loan Extension

 

Narf Industries plc (LSE: NARF), a leading U.S.-based cybersecurity group
specialising in advanced threat intelligence and software system security, is
pleased to announce an extension to its unsecured Invoice Financing Facility
Agreement (the "Facility") with the Company's Chief Executive Officer, Steve
Bassi (see RNS dated 12 April 2023).

 

The Facility, which was previously extended to expire on 31 July 2025 (see RNS
dated 31 July 2024), and later increased from US$2.5 million to US$3 million
(see RNS dated 30 December 2024), has been extended by a further year to 31
July 2026. The Facility remains capped at US$3 million and a current principal
amount outstanding of US$2.8 million.

 

The Board considers the Facility, which bear interest linked to the prevailing
US Federal Reserve rate (currently 4.5 per cent per annum) to be financially
more favourable to the Group than alternative financing options currently
available. Funds advanced under the Facility will continue to support the cash
flow management of the Company's subsidiaries, Narf Industries PR LLC, and
Narf Industries LLC (together, the "Operating Subsidiaries"), in addressing
timing mismatches on certain receivables.

 

The Company's current financial forecasts indicate significant repayments will
be made during the extended term. In addition, management remains confident
that sufficient capital is in place to support planned operations, including
the upcoming launch of Narf's Software-as-a-Service ("SaaS") Social Cyber
solution, on which a further update will be provided soon.

 

The Facility allows for early repayments without penalty and provides
flexibility to reborrow any repaid amounts, subject to the overall cap.

 

Steve Bassi did not take part in any Board's discussions or deliberations on
the terms of the Facility and did not attend any part of the Board meetings at
which such discussions and deliberations took place.

 

ENDS

 

For further information visit www.narfgroup.com or contact:

 

 Narf Industries plc       John Herring      jh@narfgroup.com
 Broker                    Peter Krens       Tel: +44 (0)207 186 9030

 Tennyson Securities plc
 Financial PR, UK          Paul Dulieu       narf@stbridespartners.co.uk

 St Brides Partners        Isabel de Salis

 

About NARF Industries plc

Narf Industries (LSE: NARF) is a U.S. based leading provider of cybersecurity
research, solutions, and services to government entities. With a steadfast
commitment to protecting national security and critical infrastructure, it
offers comprehensive expertise in addressing the evolving cyber threats faced
by its clients.

 

Important Notice

The content of this announcement has not been approved by an authorised person
within the meaning of the Financial Services and Markets Act 2000 (FSMA). This
announcement has been issued by and is the sole responsibility of the Company.
The information in this announcement is subject to change. This announcement
is not an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the Securities Act), and may not be
offered or sold, directly or indirectly, in or into the United States, except
pursuant to an applicable exemption from registration. No public offering of
securities is being made in the United States. This announcement is not for
release, publication, or distribution, directly or indirectly, in or into the
United States, Australia, Canada, the Republic of South Africa, Japan or any
jurisdiction where to do so might constitute a violation of local securities
laws or regulations (a Prohibited Jurisdiction). This announcement and the
information contained herein are not for release, publication, or
distribution, directly or indirectly, to persons in a Prohibited Jurisdiction
unless permitted pursuant to an exemption under the relevant local law or
regulation in any such jurisdiction.

 

 

 

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