Crossword Cybersecurity (CCS)

Sector:

IT Services

5.75p
   
  • Change Today:
      1.65p
  • 52 Week High: 9.50
  • 52 Week Low: 4.10
  • Currency: UK Pounds
  • Shares Issued: 101.47m
  • Volume: 2,466,967
  • Market Cap: £5.83m
  • RiskGrade: 197

Crossword Cybersecurity raises £3.6m for product and sales development

By Josh White

Date: Friday 23 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Crossword Cybersecurity announced that it had raised £3.6m in a placing on Friday, to be used on sales and marketing, product development and geographical expansion.
The AIM-traded firm said the funds were raised through the placing of 16,761,407 shares from new and existing institutional shareholders at a price of 21.7p each.

It said it would use the proceeds to increase sales and marketing resources, for product development and support, for geographical expansion to support its 24/7 monitoring services, and for general working capital purposes.

The placing price represented a 10% discount to the closing price on 22 September.

Under the terms of its investment, Gresham House Asset Management, which agreed to invest £2m under the placing and which would hold 18.9% of Crossword's issued share capital, would have the right to nominate a non-executive director to Crossword's board on the condition that it held at least 15% of its shares.

"I am delighted with the continued support we have received from our shareholders, and to welcome new shareholders in this latest fundraising," said chief executive officer Tom Ilube.

"In 2022, we remain confident in growing our revenues by circa 75% to £4m.

"Looking ahead and with this latest round of funding and the visibility on our commercial discussions, the board is confident of delivering 50% year-on-year revenue growth in 2023, taking revenues to £6m."

At 1008 BST, shares in Crossword Cybersecurity were down 4.71% at 24.3p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CCS Market Data

Currency UK Pounds
Share Price 5.75p
Change Today 1.65p
% Change 40.24 %
52 Week High 9.50
52 Week Low 4.10
Volume 2,466,967
Shares Issued 101.47m
Market Cap £5.83m
RiskGrade 197

CCS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.01% below the market average41.01% below the market average41.01% below the market average41.01% below the market average41.01% below the market average
58.02% below the sector average58.02% below the sector average58.02% below the sector average58.02% below the sector average58.02% below the sector average
Price Trend
78.62% below the market average78.62% below the market average78.62% below the market average78.62% below the market average78.62% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income Not Available
Growth
35.71% above the market average35.71% above the market average35.71% above the market average35.71% above the market average35.71% above the market average
38.82% above the sector average38.82% above the sector average38.82% above the sector average38.82% above the sector average38.82% above the sector average

CCS Dividends

No dividends found

Trades for 18-Jun-2024

Time Volume / Share Price
16:09 10,000 @ 5.75p
16:09 3,727 @ 5.75p
16:09 37,250 @ 5.75p
15:36 7,500 @ 6.00p
15:31 7,961 @ 6.23p

CCS Key Personnel

CEO Thomas Ilube
CFO Mary Dowd

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