Crossword Cybersecurity PLC (AIM:CCS) announced it had sent to shareholders documents ahead of a general meeting later this month, on 27 July 2023.
In April, the company noted that it will need to raise additional capital later this year as it continues to progress towards cash break-even, and, such a raise could involve the issue of convertible loan notes.
In order to do so, the company now requires permission from shareholders to incur debt of up to £4.5 million – from the current level of borrowing permissions, capping loans at a limit of £2 million.