Crossword’s Spin-Out Company, CyberOwl Ltd, Raises Over £500K To Accelerate Product Development

Crossword Cybersecurity Plc (ISDX: CCS, “Crossword”), the ISDX listed technology commercialisation company focusing exclusively on the cyber security sector, and Coventry University have seen their spin out venture, CyberOwl Ltd complete a successful fundraising, securing a further £510,000. Mercia Fund Management and Coventry University Enterprises invested the additional funds to accelerate product development. This investment will enable CyberOwl to rapidly develop its leading edge target centric network monitoring product aimed at the fast growing Smart Cities and Internet of Things arena.

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Issue and Admission of New Shares

Crossword Cybersecurity Plc (ISDX:CCS, "Crossword" or the "Company"), the technology commercialisation company focusing exclusively on the cyber security sector, is pleased to announce that, further to the Company's announcement last week outlining the Placing and Subscription, the Company has issued 736,842 new Ordinary Shares. 

Admission of the new Ordinary Shares is expected to become effective and dealings will commence in new Ordinary Shares today. 

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Completion of Placing and Subscription and Directors Dealings

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of Crossword Cybersecurity plc or other evaluation of any securities of Crossword Cybersecurity plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

This announcement contains inside information.

November 17, 2016

 

Crossword Cybersecurity plc

Completion of Placing and Subscription and Directors Dealings

 

Crossword Cybersecurity Plc (ISDX:CCS, “Crossword” or the “Company”), the technology commercialisation company focusing exclusively on the cyber security sector, is pleased to announce that, further to the Company's announcement earlier today outlining the proposed Placing by Hybridan LLP (“Hybridan”) on behalf of the Company of up to 217,895 new Ordinary Shares of £0.05 per share par value in Crossword (“Ordinary Shares”) (“Placing Shares”) at a subscription price of £1.90 per Placing Share (the “Placing Price”) and the subscription of 518,947 new Ordinary Shares (the “Subscription Shares”) at the Placing Price (the “Subscription”) , the Company has successfully placed 736,842 new Ordinary Shares and raised gross proceeds totalling £1.4 million at a Placing Price of £1.90 per share.  Hybridan is acting as broker (“Broker”) to the Company in respect of the Placing.

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Proposed Placing and Subscription for up to £1.4m

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of Crossword Cybersecurity plc or other evaluation of any securities of Crossword Cybersecurity plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

This announcement contains inside information.

November 17, 2016

 

Crossword Cybersecurity plc

Proposed Placing and Subscription for up to £1.4m

 

Crossword Cybersecurity Plc (ISDX:CCS, “Crossword” or the “Company”), the technology commercialisation company focusing exclusively on the cyber security sector, announces today its intention to raise gross proceeds of approximately £1.4 million by the issue of up to 736,842 Placing Shares and Subscription Shares (as defined below) , proposed to be supported by current shareholders, certain directors and new institutional investors. The proposed transactions comprise a placing (the "Placing") by Hybridan LLP (“Hybridan”) on behalf of the Company of up to 217,895 new Ordinary Shares of £0.05 per share par value in Crossword (“Ordinary Shares”) (“Placing Shares”) at a subscription price of £1.90 per Placing Share (the “Placing Price”) and subscription of up to 518,947 new Ordinary Shares (the “Subscription Shares”) at the Placing Price (the “Subscription”). Hybridan is acting as broker (“Broker”) to the Company in respect of the Placing.

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UK/US Collaboration Mission Report

In May 2016, Crossword Cybersecurity plc led a group of leading UK cyber security academic researchers on a week long mission to the US, funded by the UK Government Department of Culture, Media and Sport (DCMS). The objectives were to meet with counterparts at world class US institutions to gain insights into the commercialisation process within the cyber security research domain and to understand the US approach to commercialising academic research relative to the wider cyber ecosystem.

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CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2016

I am delighted to report great progress in the first half of 2016, as we rapidly develop Crossword Cybersecurity PLC’s technology commercialisation business focused exclusively on cyber security.

Cyber security continued to be a headline issue through the first half of 2016. HM Government’s Cyber Security Breaches Survey 2016, launched in May, revealed that 65% of large businesses experienced a cyber breach or attack in the past year. The Government has committed a record £1.9 billion investment in cyber security over the next five years to protect the UK. In June, it was reported that the UK rail network had been hit by multiple cyber attacks over the last 12 months. Ransomware attacks on hospitals in the USA and Germany reduced several to using paper based systems. Over $80m was stolen from a Central Bank via the SWIFT system. All recent and high profile examples of such attacks.

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