leadf
logo-loader
viewCrossword Cybersecurity PLC

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: 265 GBX

AIM:CCS
Market: AIM
Market Cap: £13.6 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Crossword Cybersecurity PLC named herein, including the promotion by the Company of Crossword Cybersecurity PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Crossword Cybersecurity 'cautiously optimistic' on 2020 as first half...

Crossword Cybersecurity PLC's (LON:CCS) Mary Dowd tells Proactive London's Andrew Scott they're cautiously optimistic on hitting full year targets after first half revenues to June 2020 rose 18%. The company expects to report revenues of £674,000 while it closed off the period with £1.6mln in...

on 3/8/20

2 min read