NWF Group PLC Cyber Incident update (0512F)
November 12 2020 - 2:00AM
UK Regulatory
TIDMNWF
RNS Number : 0512F
NWF Group PLC
12 November 2020
12 November 2020
NWF Group plc
NWF Group plc: Cyber Incident update
NWF Group plc ('NWF' or the Group), the specialist distributor
of fuel, food and feed across the UK , provides an update regarding
the impact of the cyber incident announced on 2 November 2020.
As set out in the announcement of 2 November 2020, upon becoming
aware of unauthorised access to its IT systems, the Group acted
promptly to instigate precautionary measures and engaged specialist
external support to contain and manage the incident.
Following extensive investigations, supported by cyber security
experts, the Group is satisfied that the incident has been
contained and additional security measures have been applied to all
of the Group's IT systems.
The Group confirms that no information material to the running
of the business was irretrievably lost as a result of the incident.
Despite the temporary shut down of certain systems, the Group is
pleased to report that each of its three divisions has continued to
operate with minimal disruption and the Board does not expect that
the incident is likely to result in any material impact on
underlying trading.
Investigations into the incident continue and, as more
information becomes available, the Group will continue to assess
(with the benefit of specialist advice) its legal obligations in
connection with the incident.
It is expected that the costs associated with the Group's
response to the incident will be approximately GBP0.5 million net
of recoveries under the Group's existing cyber insurance and as
such the overall financial impact on the Group is not expected to
be material.
Further updates in relation to the incident will be made as
appropriate.
Having successfully contained this incident the Board has
requested that trading in the Company's ordinary shares recommence
with effect from 07.30 a.m. this morning.
Richard Whiting, Chief
Executive Reg Hoare / James Bavister Mike Bell / Ed Allsopp
Chris Belsham, Group Finance
Director
NWF Group plc MHP Communications Peel Hunt LLP
(Nominated Advisor)
Tel: 01829 260 260 Tel: 020 3128 8591 Tel: 020 7418 8900
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END
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