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Crossword Cybersecurity looks to increase borrowing powers

The software group is aiming to increase in borrowing powers to either £1.5mln or 20% of its adjusted capital and reserves, whichever is higher

Crossword Cybersecurity PLC - Crossword Cybersecurity looks to increase borrowing powers
Investors will vote on the proposal at a 3pm meeting on 10 December

Crossword Cybersecurity PLC (LON:CCS) is convening a meeting on 10 December to increase its borrowing capabilities.

The software group is aiming to increase in borrowing powers to either £1.5mln or 20% of its adjusted capital and reserves, whichever is higher.

WATCH: Crossword Cybersecurity's Jake Holloway discusses launch of Nixer CyberML product

Crossword says the amendment, if approved, will allow it to enter into a three-year loan agreement for £1.27mln, which will include a £250,000 loan from its chief executive, Tom Ilube.

The loans will also have warrants attached allowing the holders to acquire shares up to around 10% of the value of their loans.

Quick facts: Crossword Cybersecurity PLC

Price: 435 GBX

AIM:CCS
Market: AIM
Market Cap: £20.36 m
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