20th Jun 2022 12:21
CYBA PLC - UK-based cyber security-focused special acquisition company - Proposes name change to NARF Industries PLC, to reflect the reverse takeover of US-based cybersecurity research and development firm NARF Industries Group.
Proposal will be tabled at the upcoming annual general meeting, which will be scheduled in the next few weeks.
In addition, CYBG Non-Executive Director Steve Bassi, who is also chief executive officer of NARF Industries, will become CEO of the newly named group.
Robert Mitchell will remain executive chair and Rory Heier and John Herring will remain as directors.
"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," Mitchell said.
Current stock price: 1.70 pence
12-month change: down 26%
By Dayo Laniyan; [email protected]
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