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https://www.lse.co.uk/rns/CYBA/corporate-update-3boyvfgzej0htka.html
Submission: On June 21 via api from US — Scanned from DE
Submission: On June 21 via api from US — Scanned from DE
Form analysis 10 forms found in the DOM
POST
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<div class="selectric"><span class="label">Filter by Category</span><b class="button">▾</b></div>
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<div class="selectric-scroll">
<ul>
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<ul class="selectric-group">
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<form action="https://www.lse.co.uk/rns/CYBA/corporate-update-3boyvfgzej0htka.html" method="post" data-hs-cf-bound="true">
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5. Corporate Update
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SHARE PRICE INFORMATION FOR CYBA (CYBA)
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Share Price: 1.55
Bid: 1.50
Ask: 1.60
Change: -0.10 (-6.06%)
Spread: 0.10 (6.67%)
Open: 1.65
High: 1.65
Low: 1.55
Prev. Close: 1.65
Last checked at 15:21:11
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CORPORATE UPDATE
Mon, 20th Jun 2022 07:00
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: +44 (0) 20 3468 2212
Peter Krens
Tennyson Securities
Tel: +44 (0)207 186 9030
Catherine Leftley / Charlotte Page / Isabel de Salis
St Brides Partners Ltd
Tel: +44 (0) 20 7236 1177
This information is provided by RNS, the news service of the London Stock
Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary
Information Provider in the United Kingdom. Terms and conditions relating to the
use and distribution of this information may apply. For further information,
please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to
confirm compliance with the terms and conditions, to analyse how you engage with
the information contained in this communication, and to share such analysis on
an anonymised basis with others as part of our commercial services. For further
information about how RNS and the London Stock Exchange use the personal data
you provide us, please see our Privacy Policy.
END
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