Additional Loan Agreement

RNS Number : 0156Z

Crossword Cybersecurity PLC

07 January 2020

 

Crossword Cybersecurity Plc

Additional Loan Agreement

7th January 2020 - London, UK - Further to its announcement of 10 December 2019, Crossword Cybersecurity Plc (AIM:CCS, "Crossword", the "Company" or the "Group"), the technology commercialisation company focused  on cyber security and risk, announces that it  has received an additional loan of £125,000 under the same terms as the £1.275m loan agreements as announced on 21 November 2019, bringing the total amount of the loans to £1.4m.

The proceeds of the loans will be used for near to mid-term working capital requirements and to fund the Group's growth plans including continued sales of products and further product development.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Contacts

Crossword Cybersecurity plc - Tel: [phone]

Email: [e-mail]

Tom Ilube, Chief Executive Officer

Mary Dowd, Finance Director

Grant Thornton (Nominated Adviser) - Tel: [phone]

Colin Aaronson / Jamie Barklem / Niall McDonald

Hybridan LLP (Broker) - Tel: [phone]

Claire Louise Noyce

About Crossword Cybersecurity plc

Crossword Cybersecurity plc focuses on the development and commercialisation of university research-based cyber security and risk management related software and cyber security consulting.  The Group's specialist cyber security product development and software engineering teams work with its university partners to develop the research concept into a fully-fledged commercial product that it will then take to market. The Group's aim is to build up a portfolio of revenue generating, intellectual property based, cyber security products. Rizikon Assurance, Crossword's leading product, is a SaaS platform that enables medium to large companies to assess and manage all risks from their suppliers.  Nixer CyberML, Crossword's most recently launched product, is a new tool for businesses that want to solve advanced security and cybercrime problems, such as detecting and dealing with compromised accounts, fraud and in-application denial of service attacks.  Crossword's team of expert cyber security consultants leverages years of experience in national security, defence and commercial cyber intelligence and operations to provide bespoke advice tailored to its clients' business needs.

For media enquiries contact:

Lorena Duke, GingerPR

[e-mail], 01932 485 300

 

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