GRC International Group: Partnership with Saracens

RNS Number : 1838L

GRC International Group PLC

21 December 2018

 

21 December 2018

GRC International Group plc

Announcement of cyber security partnership with Saracens Rugby Club

GRC International Group plc ("GRC International" or the "Group"), a leading supplier of IT governance, risk management and compliance products and services, is pleased to announce a three-year partnership with reigning Gallagher Premiership champions, Saracens Rugby Club, to deliver cyber risk and privacy management solutions.

The contract will be delivered through IT Governance Ltd., a wholly owned subsidiary of GRC International Group plc.

As part of the agreement, GRC International shall grant Saracens the right to subscribe to 100,000 shares of the Group's ordinary share capital if, at any point between the date of signature of the Letter of Intent (19 December 2018) and 11:59pm on 30 June 2023, the market price of the Group's shares:

(a)  reaches £5.00 per share, in which case Saracens shall purchase 50,000 of the Group's shares; and

(b)  reaches £7.00 per share, in which case Saracens shall purchase the remaining 50,000 of the Group's shares,

provided that the price at which Saracens will purchase the shares shall at all times be fixed at the market price of the Group's shares at 5:00pm on the date of signature of this Letter of Intent.

Alan Calder, Chief Executive Officer of GRC International, said: "We are thrilled to become part of Saracens' commercial partner family. As cyber threats grow and new regulations come into force, organisations need to change the way they tackle cyber security. We are pleased that Saracens has recognised the need for cyber resilience and look forward to helping them on their continuous improvement journey."

Enquiries

GRC International Group plc Alan Calder (CEO) Chris Hartshorne (Finance Director)	www.grci.group [phone]
Grant Thornton UK LLP (Nomad) Philip Secrett/ Jen Clarke	020 7383 5100
Dowgate Capital Stockbrokers Limited (Broker) James Serjeant	020 3903 7717

 

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