CYBA PLC Corporate Update (4336P)
June 20 2022 - 2:00AM
UK Regulatory
TIDMCYBA
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 / St Brides Partners Tel: +44 (0) 20 7236
Charlotte Page / Isabel Ltd 1177
de Salis
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