Corporate Update

RNS Number : 4336P

CYBA PLC

20 June 2022

 

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 2022

CYBA Plc

('CYBA' or the 'Company')

Corporate Update and Proposed Name Change

CYBA plc (LSE: CYBA) ("the Company"), is pleased to provide an update on planned corporate developments. 

OVERVIEW

· The Company proposes a change of name to NARF Industries plc to reflect the reverse takeover by the NARF Industries Group, the advanced cybersecurity research and development company based in the US

· Steve Bassi to become Chief Executive Officer

BACKGROUND AND NARF DETAILS

CYBA was created as a Cash Shell (SPAC) company and listed on the London Stock Exchange in March 2021.

In March 2022 CYBA completed the 100% acquisition of NARF Industries Group which leads advanced cybersecurity research and development projects in the US primarily commissioned by government agencies.

Following the acquisition, the Company no longer was an investment company, instead forming part of an Operating Group.

The Board has determined to change the Company's name to NARF Industries plc reflecting the Reverse Take-Over ("RTO") by NARF Industries Group.

Executive Management Team

Steve Bassi, who is currently a Non-Executive Director of the Company and CEO of the NARF Industries Group, has been formally appointed as Chief Executive Officer. 

Robert Mitchell will remain as Executive Chairman and Rory Heier and John Herring will continue as Directors.

Further senior appointments consistent with NARF's business focus will be announced in due course.

Stock Exchange Matters

The proposed change of name to NARF Industries plc will be proposed as special resolution at the Company's 2022 Annual General Meeting, notice of which will be provided in the coming weeks.

The Company will change its LSE Stock Exchange Ticker to NARF. The Company's ISIN will remain unchanged. The proposed change of company name will not affect the rights of shareholders and all existing share certificates should be retained as they will remain valid. Shareholdings held electronically in the CREST system will simply be renamed on the date that the name change becomes effective.

CEO, Steve Bassi, said: "NARF's products and services provide a vast opportunity to create value for shareholders; accordingly, we are looking forward to delivering these prospects, and going forward as NARF Industries Plc.  This is an exciting period for the Company as we focus on what is clearly a major opportunity and I look forward to updating shareholders on further progress."

Executive Chairman Robert Mitchell, said: CYBA plc was created and Listed on the London Stock Exchange as a cash-shell ('SPAC') with a mission statement to make an acquisition of a proven opportunity in the Cyber Security space. Having extensively researched the market opportunities the Board concluded the NARF Industries Group represented a unique opportunity to create shareholder value. We expect to be able to make further announcements in due course on developments in the existing NARF portfolio. The corporate actions detailed above and appointment of Steve Bassi as Chief Executive Officer reflect the successful completion of the process for CYBA and the transformation into an operating business with a proven and respected leadership team which we are proud to have brought to the London Stock Exchange.

**ENDS**

For further information on the Group please visit  www.cybaplc.com and narfindustries.com or contact:

Robert Mitchell	CYBA plc	Tel: [phone]
Peter Krens	Tennyson Securities	Tel: [phone]
Catherine Leftley / Charlotte Page / Isabel de Salis	St Brides Partners Ltd	Tel: [phone]

 

END

 

 

UPDFIFLVRLIIFIF