Potential Sale of Business & Final Results Status

Falanx Cyber Security Limited

20 September 2023

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

FALANX CYBER SECURITY LIMITED

("Falanx" or the "Company")

Potential Sale of Business Assets and Final Results Status

Falanx Cyber Security Limited (AIM: FCS), announces it is in in advanced negotiations for the sale of its cyber security division (the "Sale"). Consequently, the Group will not be in a position to release audited results for the year ended 31 March 2023 ("FY23") by 30 September 2023 as required under AIM Rule 19 of the AIM Rules for Companies. As a result, trading in the Company's shares will be suspended with effect from 7:30am on 2 October 2023 until such time as the audited results are published and sent to shareholders.

Whilst negotiations are at an advanced stage there can be no certainty that the Company will complete the Sale. If the Sale were to proceed it would be classified as a fundamental disposal under the AIM Rule 15 and, as a result, would be subject to shareholders' approval.

A further announcement regarding the Sale and the production and timing of the final results will be made in due course.

Enquiries:

Falanx Cyber Security Limited Alex Hambro Chairman Mike Read CEO Ian Selby CFO	Via IFC
WH Ireland Mike Coe/ Sarah Mather (Nomad) Fraser Marshall (Corporate Broking)	+ 44 (0) 207 220 1666
IFC Advisory Ltd Financial PR & IR Graham Herring / Zach Cohen	[phone]

About Falanx

Falanx Cyber Security Limited is a cyber security services provider, offering enterprise-class offensive and defensive security solutions to Small and Medium-sized Enterprises (SMEs). For further information visit: www.falanxcyber.com

 

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