GRC International Group PLC GRC International Group: Partnership with Saracens (1838L)
December 21 2018 - 2:00AM
UK Regulatory
TIDMGRC
RNS Number : 1838L
GRC International Group PLC
21 December 2018
21 December 2018
GRC International Group plc
Announcement of cyber security partnership with Saracens Rugby
Club
GRC International Group plc ("GRC International" or the
"Group"), a leading supplier of IT governance, risk management and
compliance products and services, is pleased to announce a
three-year partnership with reigning Gallagher Premiership
champions, Saracens Rugby Club, to deliver cyber risk and privacy
management solutions.
The contract will be delivered through IT Governance Ltd., a
wholly owned subsidiary of GRC International Group plc.
As part of the agreement, GRC International shall grant Saracens
the right to subscribe to 100,000 shares of the Group's ordinary
share capital if, at any point between the date of signature of the
Letter of Intent (19 December 2018) and 11:59pm on 30 June 2023,
the market price of the Group's shares:
(a) reaches GBP5.00 per share, in which case Saracens shall
purchase 50,000 of the Group's shares; and
(b) reaches GBP7.00 per share, in which case Saracens shall
purchase the remaining 50,000 of the Group's shares,
provided that the price at which Saracens will purchase the
shares shall at all times be fixed at the market price of the
Group's shares at 5:00pm on the date of signature of this Letter of
Intent.
Alan Calder, Chief Executive Officer of GRC International, said:
"We are thrilled to become part of Saracens' commercial partner
family. As cyber threats grow and new regulations come into force,
organisations need to change the way they tackle cyber security. We
are pleased that Saracens has recognised the need for cyber
resilience and look forward to helping them on their continuous
improvement journey."
Enquiries
GRC International Group plc www.grci.group
Alan Calder (CEO) +44 33 3800 7000
Chris Hartshorne (Finance Director)
Grant Thornton UK LLP (Nomad)
Philip Secrett/ Jen Clarke 020 7383 5100
Dowgate Capital Stockbrokers Limited
(Broker)
James Serjeant 020 3903 7717
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END
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