Defenx PLC Delivery and Acceptance of BV-Tech’s Software

Defenx PLC (LON:DFX), the mobile security software solutions company, is pleased to announce that further to the announcement on 11 April 2017 of the acquisition by the Company of a bespoke version of BV-Tech SpA’s (“BV-Tech”) encrypted voice and messaging software (the “Software”), the Software has now been delivered and formally accepted by the Company.

Following formal acceptance, Defenx now owns the Software and has the right to develop and commercially exploit it. In addition, in accordance with the terms of the software purchase agreement entered into by the parties, the €2.65 million (£2.26 million) consideration to be settled through the issue of 1,982,222 new ordinary shares of 1.8 pence (“Ordinary Shares”) at 114 pence per share (the “Consideration Shares”) is now due.

Admission to trading

Application has been made to the London Stock Exchange for the admission of the Consideration Shares to trading on AIM and admission is expected to commence at 8.00 a.m. on 9 May 2017. The Consideration Shares rank pari passu in all respects with the existing Ordinary Shares.

Notification of shareholdings

The Company has also received notification from BV-Tech that it has acquired the entire holding of 336,500 shares from Safe Active Srl (“Safe Active”) in an off-market transaction. Accordingly, Safe Active no longer has a holding in Defenx.

BV-Tech’s Shareholding

Following the issue of the 1,982,222 Consideration Shares to BV-Tech and the acquisition of shares from Safe Active, BV-Tech is interested in 3,480,388 Ordinary Shares representing approximately 29.6 per cent. of the Company’s issued share capital as enlarged by the issue of the Consideration Shares. The Consideration Shares are subject to the lock-in arrangements as detailed in the announcement of 11 April 2017.

In addition, as a result of the issue of the Consideration Shares, Andrea Stecconi’s existing holding of 1,826,836 Ordinary Shares represents approximately 15.5 per cent. of the Company’s issued share capital as enlarged by the issue of the Consideration Shares.

Total Voting Rights

Following the admission of the Consideration Shares, Defenx has 11,761,694 Ordinary Shares in issue and admitted to trading on AIM.

The figure, therefore, of 11,761,694 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of Defenx under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules. Defenx holds no Ordinary Shares in treasury

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    Defenx Plc

    More articles like this

    Defenx Plc

    WhatsApp Update Warning As New ‘App Killing’ Message Confirmed

    WhatsApp has endured a difficult 2019 on the security front, with stories of nation-state hacking campaigns and multiple vulnerabilities, even as it battles with governments and their agencies over its insistence on end-to-end encryption. And now, just as the year

    Defenx Plc

    T-Mobile Says Prepaid Accounts Breached

    T-Mobile says it suffered a breach of prepaid accounts as a result of unauthorized access to its systems. “Our cybersecurity team discovered and shut down malicious, unauthorized access to some information related to your T-Mobile prepaid wireless

    Defenx Plc

    Whatsapp bug could have let hackers read your messages

    WhatsApp has acknowledged a security flaw within the app that allowed hackers to access people’s messages by sending a malicious video file. The Facebook-owned messaging app posted a security advisory about the bug, named CVE-2019-11931, which affects

    Defenx Plc

    7 Essential Mobile Security Best Practices for Businesses

    What are the essential mobile security best practices for businesses? As enterprises introduce more mobile devices and solutions into their infrastructure, they need to keep mobile security in mind at all times. The mobile threat landscape is

    Defenx Plc

    How cybersecurity accelerates business growth

    It’s no secret that the cybersecurity industry has grown exponentially over more than a decade due to the proliferation of high-profile cybercrime. Viewing cybersecurity as simply a necessary step to mitigate cyber risk leaves much opportunity on the

    Defenx Plc

    How to ensure mobile device security in healthcare

    The myth of mobile devices being more secure than desktops has proven to not be the case. To maintain mobile device security in healthcare, IT must do more to remind users how to stay protected. Personal

    Defenx Plc

    Mobile security: 5 misunderstandings that persist

    Mobile has become ubiquitous in the enterprise: So why do so many organizations still buy into these security misconceptions? Nearly all companies allow their employees to use smartphones for work-related interactions. With the advanced capabilities and

    Defenx Plc

    Defenx made significant progress in recent months

    Set out below are the interims results for Defenx (LON:DFX) for the six months ended 30 June 2019. Raffaele Boccardo, Deputy Chairman of Defenx, commented: “I and BV Tech remain fully supportive of Defenx and I

    Defenx Plc

    2019 Mobile Threat Landscape :How to stay safe?

    Recently, a cybersecurity provider CrowdStrike released a report covering cybersecurity in the mobile space. As India witnessed a rapid growth of electronic payments and mobile banking in India. According to the Reserve Bank of India’s 2017-18

    Defenx Plc

    These 24 Android Apps Are Infected with Joker Malware

    The Joker strikes again! No, it’s not in the form of Batman’s archnemesis, but in a clever bit of malware that has infected dozens of Android operating system apps. The malicious code can easily avoid detection unless you pay close

    Defenx Plc

    4 Key Lessons for Enterprise Mobile Device Security

    As of 2019, the threats to mobile device security continue to grow. In fact, according to  Verizon’s Mobile Security Index 2019, mobile device security threats grow faster than any other; 86 percent of surveyed enterprise executives state

    Defenx Plc

    Mobile security: Is your organization truly protected?

    Despite organizations’ efforts to implement the latest, innovative tech tools, security threats to mobile devices remain be a growing priority. According to Canadian IT and security professionals, mobile devices appear to pose some of the largest threats

    Defenx Plc

    Cyber security and the finance sector

    After the fallout of the recent Capital One and Equifax data breaches, Clearswift commissioned a survey into the financial services sector to find out the extent of financial companies’ data protection capabilities. Worryingly, the results highlighted that 70% of