Further Drawn Down of Loan

4 January 2019

Defenx PLC

("Defenx", the "Company" or the "Group")

Further draw down under the Loan and associated conversion notice

Defenx Plc (AIM: DFX), the cyber-security software group, announces that, it has now received €500,000 following a further drawn down of the unsecured loan of €950,000 (the "Loan") provided by BV Tech S.p.A. ("BV Tech"), the Company's majority shareholder as announced on 2 October 2018 (the "Announcement").

The funds will be used to provide general working capital to the Group and following receipt of the above funds, €300,000 remains available to be drawn under the Loan.

As detailed in the Announcement, the Loan is convertible, at the sole discretion of BV Tech, into new ordinary shares of 1.8 pence each in the Company ("Ordinary Shares") at a price of 8 pence per share.

The Company has received a conversion notice in respect of the further draw down and accordingly, 5,631,250 new Ordinary Share will be issued to BV Tech pursuant to the conversion notice.

On admission of the new Ordinary Shares, BV Tech will be interested in 22,697,008 Ordinary Shares, representing approximately 64.0 per cent. of the Company's then enlarged share capital.

Admission

Application will be made to the London Stock Exchange for 5,631,250 new Ordinary Shares to be admitted to trading on AIM pursuant to the conversion. It is expected that admission will occur at 8.00 a.m. on 11 January 2019.

Following Admission, the Company's total issued share capital will comprise 35,441,052 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure Guidance and Transparency Rules. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue, including the right to receive all dividends and other distributions declared.

Enquiries

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

investors.defenx.com