CYBER1 Private Placement of Shares for €812,744

London United Kingdom –18 March 2019 – Cyber Security 1 AB (Publ) (the “Company”) (Nasdaq First North: CYB1), an international leader in Cyber security, GRC and PCI services today announces a private placement of new shares (“New Shares”) through a directed new share issue to a qualified investor (the “Private Placement”).

The issue of the 3,250,976 New Shares at a share price of €0.25 results in the Company having 295,486,482 issued shares from 292,235,506 previously, a dilution of 0.99% and an increase in share capital of €850.818 to a share capital at today’s date of €77,332.24178.

The investment with the Company is undertaken by a number of parties:

  • Mr K Paulsen (CYBER1 Chairman)
  • Ramphastos Participaties Cooperatief U.A. (existing CYBER1 shareholder)
  • Brownstone Capital LLP (existing CYBER1 shareholder)
  • Mr H van der Linden (investor)
  • Mr A Verhoeven (investor)

who collectively have invested €812,744.00 for the 3,250,976 New Shares in the Private Placement.

The price €0.25 per share for the Private Placement has been agreed in arms-length negotiation with each of the parties as is at a premium to the current share price.

The Company intends to use the proceeds from the Private Placement as the first of a tranche of expected new funding to strengthen the working capital position of the Company, as well as to finance continued operations, further development of its cybersecurity service offerings, and corporate expansion.

The reason for conducting a directed new share issue via a Private Placement and thereby deviating from existing shareholders’ preferential rights is as a result of a number of factors, including:

  • the view of the Company’s Board of Directors that, given the current constitution of the Company’s shareholders, a non-directed new share issue would run the risk of not being fully subscribed;
  • the lower costs of the process (including underwriting) of the directed new issue;
  • the timing advantage of a directed new issue, taking into account the current market fluctuations of the Company’s share price; and
  • the desire of the Board of Directors to bring a new, influential shareholder into the Company.

The Board has concluded that the reasons above collectively indicate that it is in the shareholders’ interest, as well as that of the Company as a whole, that the issue of the New Shares is made with deviation from existing shareholders’ preferential rights.

The Private Placement is subject to, inter alia, a resolution by the Board of Directors of the Company and is in line with the authorisation to issue new shares given to the Board of Directors at the AGM on the 28 June 2018.

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan, IFC Advisory,
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

Matt Glover or Najim Mostamand, CFA, Liolios Group,

US-Investor Relations contact, CYBER1

E-mail: cyber1@liolios.com

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 18th March 2019 at 17:00 CET.

ABOUT CYBER1

CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 44.54m EUR in 2018 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com

 


CYBER1 appoints Vivian Gevers as Chief Operating Officer

CYBER1 is delighted to announce that Vivian Gevers has been appointed as the Chief Operating Officer for the CYBER1 Group.

 

 

Vivian has progressed internally within CYBER1, from Managing Director of our Product Distribution arm Credence Security, to Group Managing Director and now serving officially as the Chief Operating Officer of CYBER1, effective from March 1st.

CEO of CYBER1 Group Nick Viney commenting on the appointment: “I am delighted to confirm Vivian’s new position within CYBER1. Vivian continues to be instrumental in implementing cross collaboration within the Group and has been at the forefront of driving organic growth within the business. More importantly, Vivian’s commitment in facilitating the positive culture within the organisation, has been integral in bringing our operating model together. This is pivotal in taking CYBER1 to its next stage of growth and I look forward to working with Vivian closely moving forward.”


CYBER1 To Acquire IntaForensics - Signs Exclusive Heads Of Terms Of Agreement

London United Kingdom – 5th March 2019 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security, today announces the signing of exclusive Heads of Terms of Agreement pursuant to the acquisition of IntaForensics.

 

Since IntaForensics’ formation in 2006, the business has grown internationally to provide the widest spectrum of Digital Forensic and Cyber Security Services from its headquarters in England. One of the fastest growing Digital Forensic Services providers in the world, IntaForensics is one of only a handful of organisations that possesses the prestigious ISO/IEC 17025 Laboratory Standard. Also accredited to ISO/IEC 27001 and ISO 9001, the business is accredited by the PCI Security Standards Council as a Qualified Security Assessor and a PCI Forensics Investigator (QSA, PFI). The Company employs 35 full-time employees across its multi-disciplined solutions. IntaForensics owns and developed the award-winning LIMA Forensic Case Management solution, in use since 2009, enabling digital forensic, incident response and eDiscovery practices, regardless of an organisation’s size, to operate efficiently and effectively through its comprehensive end-to-end Case Management system. IntaForensics’ clients include major Police Forces & public and private sector organisations across the globe.

 

Lima helps manage a significant number of law enforcement and regulatory digital forensic laboratories across the United Kingdom, One Lima case study involves a national Police Force that, after facing case management challenges surrounding the archiving and tracking of paperwork, researched the market for an effective forensic Case Management System. Specifications included support with the archiving and storage of paperwork, in addition to the management and movement of exhibits. They aimed to find an auditable forensic Case Management System that could improve efficiency for tracking and sharing examination data thereby avoiding the necessity to physically hunt down files and examiner notes.

 

The force decided that IntaForensics’ “Lima” was the solution for these areas of concern due to its capabilities surrounding quality standards and the storage of data and access rights. Lima allows organisations to demonstrate compliance with the ISO/IEC 17025 Professional Laboratory Standard, assuring that the presentation and level of work is above standards sought by auditors.  The storage of data is centralised, making for strong, highly visible representations, with configurable access rights. The force stated that these capabilities are of great benefit to them due to the impact it has on the sight and continuity of data.

 

Since Lima became the main digital forensic case management system for the force, the key issues they were facing on the management of workloads and assets have been resolved. IntaForensics’ Lima has made the department paperless as well as giving a visible insight into the workload of staff.

 

The full financial terms of the transaction, subject to contract, are to be released following Cyber1’s due diligence exercises, which shall be incepted immediately.

 

Nick Viney, Cyber1 Chief Executive Officer, commenting on IntaForensics’ acquisition:

 

“We are delighted to be working together to bring IntaForensics into the Cyber1 family. IntaForensics is a world-class digital forensics solutions provider and one of only a small, select handful of companies accredited to the ISO/IEC 17025 Laboratory and PCI Forensic Investigator Standards. This acquisition will have significant benefits for all parties, including our collective customers and the marketplace overall as we look to invest in and grow this exciting sector, rapidly. Andrew and his team have built up a strong client base and have an extremely complimentary culture to Cyber1. I’m confident our combined offering will be a very powerful one.” 

 

Andrew Frowen, Founder and Chief Executive Officer of IntaForensics said:

 

This is a tremendous opportunity for both Cyber 1 and IntaForensics and a testament to the tireless investment of effort and dedication from all the staff at IntaForensics since we created the company in 2006.  I am incredibly proud of all that we have achieved on our journey to become one of the market-leaders in the delivery of accredited digital forensics, predominantly to UK Law Enforcement and PFI investigations and cyber security services wider afield. Our flagship Lima product suite continues to develop into a world-class case management solution in use worldwide by organisations seeking quality accredited standards.  The acquisition of IntaForensics will provide the opportunity for Cyber1 to extend its global reach whilst increasing their portfolio of blended cyber security and digital forensic service offerings.  My management team and all staff are readily looking forward to working with Nick and the Cyber1 team to develop new opportunities and challenges within the Cyber1 group of companies.”

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan, IFC Advisory,
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

 

Matt Glover or Najim Mostamand, CFA, Liolios Group,

US-Investor Relations contact, CYBER1

E-mail: cyber1@liolios.com

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 5th March 2019 at 17:00 CET.

ABOUT CYBER1

 

CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 44.54m EUR in 2018 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com


CYBER1 completes 2018 with second successive highest quarterly revenue result of 21.43m EUR, with total annual revenue growth of 159% and annual organic revenue growth of 67%

  • Q4 2018 revenue equated to 21.43m EUR, an 238% increase (15.1m EUR) on Q4 2017 (6.34m EUR).
  • Total annual revenue growth increased by 159% (27.35m EUR), from 17.19m EUR YTD Q4 2017, to 44.54m EUR YTD Q4 2018.
  • Organic revenue increased by 67.4% (11.58m EUR), from 17.19m EUR YTD Q4 2017, to 28.77m EUR YTD Q4 2018.
  • Group Q4 2018 EBITDA of -292k EUR, (Q4 2017 EBITDA -93k EUR).
  • Credence Security increased revenue by 62.8% from 3.99m EUR YTD Q4 2017, to 6.49m EUR YTD Q4 2018.
  • Cognosec increased revenue by 83.7% (8.7m EUR), from 10.49m EUR YTD Q4 2017, to 19.2m EUR YTD Q4 2018.
  • Beyond the Quarter, CYBER1 appointed a new CEO in Nick Viney, followed by an exclusive five-year partnership with Formula 1, becoming their official cyber security provider.

Performance Overview

The fourth quarter results detailed in this report, have rounded off a pivotal year in the history of CYBER1. Building on top of a strong third quarter, the company achieved Q4 revenues of 21.43m EUR. With many of the subsidiaries being traditionally back-end loaded, continued organic revenue growth has been further realised year on year at 67.4%. This is a key mission statement for CYBER1, in building long term trust with our partners, combining proven results in implementing our services and solutions. We strongly feel this client centred approach will result in longer term benefits to CYBER1, its vendors and overall customer portfolio.

Combined with our recent acquisition results in 2018, overall year on year quarterly revenue growth has yielded a 238% increase (15.1m EUR). The former Itway subsidiaries continue to add tremendous value to the CYBER1 Group, with a number of diverse vendors and unique client base, that aid in consolidating and increasing our overall market presence in Europe, a key objective for 2019. These two drivers of internal growth combined with a methodical acquisition process, have underpinned our approach to further extend and build the company. Intertwined with this is ensuring that CYBER1’s integration process allows for entrepreneurial creativity and vision, combined with strong leadership and governance throughout the Group. CYBER1 sees these three pillars of organic growth, select acquisitions and a robust governance as the key to unlocking the company’s potential growth in the future.

CEO of CYBER1 Nick Viney commented: “The Group’s strong rapport and relationships with clients have cultivated a trust and understanding of their cyber security environments. The newly acquired businesses have continued their performance and I am excited with the cross-collaborative opportunities that are already bearing return, in driving organic growth within the Group of 67% in 2018 and overall 159% annual revenue growth being a testament to the hard work and dedication of CYBER1 and our partners. Looking ahead to 2019 and as we enter into our third year as a listed company, I look forward to integrating our subsidiaries closer together, to realise new commercial opportunities whilst ensuring appropriate internal governance can be achieved with our newly acquired and existing companies.”

The report can be found on our Financial Report section of the website here.

Certified Adviser

Mangold Fondkommission AB is the Company’s Certified Adviser.

Telephone: +46 (0)8 5030 1550

E-mail: info@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Metcalfe / Miles Nolan

Investor Relations contact, CYBER1

Email: cyber1@investor-focus.co.uk

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 28.02.2019  at 14:30 CET.

ABOUT CYBER1

CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 44.54m EUR in 2018 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com


CYBER1 announces exclusive five-year partnership with Formula 1 to provide cyber security services and solutions

London United Kingdom – 08 February 2019 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security is delighted to announce an exclusive five-year partnership with Formula 1®, the world’s premier motorsport series.

CYBER1 will provide Formula 1® with an array of resilient solutions, designed to enhance and secure Formula 1’s infrastructure from potential cyber threats.

CYBER1 will work closely with the Information Technology department at Formula 1®, delivering a number of key projects including: consultancy, implementation and advisory. This partnership will be a further opportunity for our employees to collaborate on global projects that we continue to deliver across the Company, leveraging the unique skills offering and product knowledge within CYBER1. Formula 1® embodies the continuous change and evolution of motorsport, in achieving faster results on the track. CYBER1 looks forward to challenging the conventional model of the cyber security industry, with innovative solutions that will help their resilience against evolving threats.

During the five-year period, CYBER1’s partnership with Formula 1®, will enhance the Company’s overall B2B marketing strategy, to help grow the business and its overall global market presence. In addition, CYBER1 will become an Official Provider of Formula 1® (Official Cyber Security Provider).

Nick Viney, CYBER1 CEO, said:

“CYBER1 is delighted to announce this exclusive five year worldwide partnership with Formula 1 for cyber security services and is honoured to partner with them after having undergone a competitive tendering process. Both CYBER1 and Formula 1 share the same vision in terms of cyber resilience and product innovation, in conjunction with initiatives such as empowering diverse workforces, through our mutual drive to increase more female role models in both motorsport and cyber security. Enhancing and maintaining the security of Formula 1’s evolving IT infrastructure is a key priority for the leadership of both companies as well as for the wider Formula 1 series ecosystem and the ongoing enjoyment of millions of fans from around the globe. We are starting work immediately on the project both internally, with Formula 1 and with our product vendor community and we are looking forward to supporting them in their development of a world class cyber security environment.”

Chris Roberts, Head of IT Infrastructure at Formula 1®, said:

“Formula 1 is thrilled to bring on board CYBER1 as our global cyber security provider, together we are going to bring a step change to the cyber security landscape at Formula 1.  Information technology is a key enabler in our drive to bring the fans closer to the action and IT security underpins all of those services.  CYBER1 are uniquely placed to bring the expertise, innovation and agility that will help us to secure those systems.  From trackside and extending to our ever-growing digital estate CYBER1 will leverage next generation technology to increase resiliency as we mature our digital engagement programme.”

 

-ENDS-

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Investor Relations:

Tim Metcalfe / Miles Nolan IR-contacts

CYBER1 Email: cyber1@investor-focus.co.uk

For all Business Enquiries please contact:

info@cyber1.com

For more information about CYBER1, please visit: www.cyber1.com

CERTIFIED ADVISER:

Mangold Fondkommission AB is the Company’s Certified Adviser.

Telephone: +46 (0)8 5030 1550 E-mail: CA@mangold.se

 

ABOUT CYBER1:

CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors

 

About Formula 1®

Formula 1® racing began in 1950 and is the world's most prestigious motor racing competition, as well as the world's most popular annual sporting series: The 2019 FIA Formula One World Championship™ runs from March to December and spans 21 races in 21 countries across four continents. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™.

Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock.

The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.

 

 


CYBER1 Appoints Nick Viney As New Chief Executive Officer

London United Kingdom – 14 January 2019 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security services today announces the appointment of a new Chief Executive Officer.

The Board of Directors of CYBER1 has appointed Nick Viney as CEO who joins CYBER1, after a successful career at McAfee.  Mr Viney will replace Robert Brown who steps down from the role on the 1st February 2019.

Nick has a proven track record in both organisational and sales leadership.  As a cyber security advocate, he joins CYBER1 at a critical phase in its evolution, after a record year in 2018.  Nick has been recognised by his industry peers as an exceptional business executive who has worked for several of the largest global technology companies.  He is 44 and left McAfee in late 2018 where he worked for the last 7 years, most recently as Regional Vice President for the UK, Ireland and South Africa.

In addition, Nick has closed some of the largest corporate and consumer cyber security deals over the last decade and managed a customer portfolio of nearly 150m users. He is a frequent speaker at industry events, publisher on hot topics and a regular global traveller.

Previous positions include senior management roles at Microsoft, Google and Arthur Andersen. Nick holds an MA in Modern History and MSc in Management Science from the University of Oxford.

Kobus Paulsen, Chairman, on the announcement of Nick Viney:

"I am pleased to announce the appointment of Nick as the new CEO. He will bring a wide range of experience relevant to our business, combined with a dedication to manage change and transformation in the Cyber Security business environment, which comes at a pivotal turning point in our growth story"

With the appointment of Nick, we secure a strong and proven leader for CYBER1 and we will now accelerate our strategy to drive growth and shareholder value. To ensure this development, the Board and management continuously review operational and structural metrics on the back of our increased focus on synergies within the Group and its existing network of relationships

"I also want to take the opportunity to express my and the Board’s gratitude to Robert who has served CYBER1 as its CEO since its listing on Nasdaq First North in September 2016.  Under his stewardship CYBER1 has established itself as a market leader in the Cyber Security industry, with 11 successful acquisitions and record results in the last two quarters.” 

Nick Viney on his appointment:

"I am looking forward to joining CYBER1 which has a strong international reputation and is looking to expand its cyber security business across Europe and the US.  I see exciting potential for its future development and look forward to continuing the outstanding growth achieved last year. Together with the existing leadership team, I will be looking at the CYBER1 execution model, acquisition strategy and international expansion plans over the coming months."

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: CA@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 14.01.2019 at 12:00 CET.

ABOUT CYBER1

CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com


CYBER1 ANNOUNCES SETUP OF A GLOBAL ADVISORY BOARD WITH THE APPOINTMENT OF JOSEPH J. GRANO JR. AS CHAIRMAN

 

London, United Kingdom – 12 December 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security and Governance, Risk and Compliance services, is today delighted to announce the appointment of Joseph J. Grano Jr. to set up and chair the CYBER1 Global Advisory Board (“GAB”) with immediate effect.

Mr  Grano brings with him a wealth of experience in business and has more than 30 years’ experience in the securities and financial services industries. He is the former Chairman of UBS Financial Services Inc., the former President, CEO and Chairman of UBS PaineWebber and has also previously served in various senior management positions with Merrill Lynch.

During the period from March 2002 to August 2005, Mr Grano served as the Chairman of the Homeland Security Advisory Council following his appointment by President George W. Bush: in this role, he was ultimately responsible for providing the Secretary of Homeland Security with real-time, real-world, sensing and independent advice in order to better facilitate decision-making across the spectrum of homeland security operations.

The CYBER1 board of directors has mandated Mr Grano to initiate the GAB, which will help CYBER1 develop and implement its mission statement and strategy on a global basis.  It is envisaged that the GAB will comprise representatives from the following four distinct geographical regions:

 

  1. Europe
  2. Middle East/Africa
  3. Latin America
  4. The United States

The primary mandate of the GAB will be to facilitate the successful penetration of the CYBER1 value proposition within each geographical region and concomitant to this, to prioritise cross selling opportunities within the various CYBER1 Group companies, with the resultant effect of positioning CYBER1 as a “best in class” global firm, and trusted provider of cyber security products and services to governments, municipalities, corporations and institutions.

Commenting on his appointment to the advisory board, Mr Grano stated:

“I am delighted to be joining the CYBER1 team, in supporting the set up of their Global Advisory Board. Ever since my Special Forces training and from the privilege of chairing the Homeland Security Advisory Board post 9/11, I have been dedicated to the security of our citizens, government and private sector.  My experience has taught me that to win this cyber war we need to appreciate that our collective approach is not a matter of sacrificing liberty for security.  Rather we need to focus on securing liberty”

 

CYBER1 Chairman Kobus Paulsen commented:

 

We are honoured to have Joe join our Global Advisory Board. With his rich and varied leadership experience in the fields of security and financial services, Joe adds tremendous depth, business acumen and a wealth of insight into our target markets. As we enter a new period of global expansion of our services, we will undoubtedly benefit from Joe's expertise, network and immense credibility in both the public and private sectors".

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

ABOUT CYBER1


CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions, and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the CYBER1 Group delivers services and technology licenses designed to enhance clients’ protections against unwanted intrusions, provide and enhance cyber resilience, and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q3 2018. For further information, please visit www.cyber1.com/investors.

For further information, please visit: https://cyber1.com.

 

 

 

 

 


CYBER1 records highest quarterly revenue result of 14.04m EUR, with total year to date revenue growth of 113% and strong organic revenue growth of 69%

London United Kingdom – 31 October 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”)  (Nasdaq First North: CYB1), an international leader in Cyber security, GRC is pleased to announce the Q3 2018 results. The Company has achieved its highest quarterly revenue since listing on Nasdaq First North, with revenues of 14.04m EUR. This brings CYBER1’s total year to date (YTD) revenues to 23.11m EUR, demonstrating 69% organic growth of 7.53m EUR and 113% overall total growth of 14.04m EUR versus the same period in 2017.

 

Highlights

 

  • Total revenue growth increased by 113%, from 10.9m EUR YTD Q3 2017, to 23.11m EUR YTD Q3 2018.
  • Organic revenue increased by 69%, from 10.9m EUR YTD Q3 2017, to 18.43m EUR YTD Q3 2018.
  • Group Q3 2018 EBITDA of 566k EUR, (Q3 2017 EBITDA -734k EUR).
  • Credence Security UAE increased revenue by 88.99%, from 2.27m EUR YTD Q3 2017, to 4.29m EUR YTD Q3 2018.
  • Cognosec South Africa increased revenue by 95.81%, from 6.21m EUR YTD Q3 2017, to 12.16m EUR YTD Q3 2018.
  • Newly acquired former Itway subsidiaries record revenues of 2.88m EUR for Q3.
  • Group Q3 2018 EBITDA of 566k EUR, (Q3 2017 EBITDA -734k EUR).
  • CYBER1 entered into an Exclusive Agreement to acquire 100% of InfoNet (Infonet Bilgi Teknolojileri Ticaret Limited) a leading Cyber business, with 2017 audited revenues of 20m EUR and EBITDA of 1m EUR.

 

The third quarter results detailed in this report, demonstrates a significant milestone in the history of CYBER1.  We have surpassed our 2017 annual revenue of 17.19m EUR by the end of Q3, recording a year to date (YTD) total of 23.11m EUR in revenue (with our historically largest revenue generating quarter still to come). Total YTD growth at the end of Q3 equates to 113% (12.21m EUR), when comparing the same period in 2017. More importantly, year-on-year improvements have been realised organically. When excluding all acquisitions since 2017, the strategic initiatives within the subsidiaries have yielded a 69% increase in revenue growth (7.53m EUR) when compared to YTD Q3 2017.

 

The process of harmonising the initial acquisitions since CYBER1 became a public listed company, has begun to bear significant opportunities across all regions. Each subsidiary in CYBER1 possesses unique and long established relationships with their clients. Cross selling opportunities are materialising, as our professional services offering and wide ranging vendor portfolio continues to expand. A number of clients utilise CYBER1 as their sole provider of cyber security solutions and services, enabling primary focus on their core businesses, safe in the knowledge that their resilience against security threats remains apparent. Combined with our retention of annual and multi-year contracts with our longstanding clients, CYBER1 has created a successful environment for Group companies to evolve as a single, cohesive entity.

As we approach the final quarter for the year, CYBER1 is committed to building on this successful nine-month period to realise 2018 as a defining year for the organisation. With more people connecting online and new technologies emerging, the vulnerabilities that we are able to eradicate and reduce becomes more paramount to all organisations. As a complete provider for all cyber security needs, CYBER1 continues its vision in becoming the sole partner for the biggest and most influential participants/companies around the globe.

The report can be found on our Financial Report section of the website here

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 31.10.2018  at 17:00 CET.

ABOUT CYBER 1

 

CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q3 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com

 


CYBER1 Private Placement of Shares for €3,000,000

London United Kingdom – 23 October 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”)  (Nasdaq First North: CYB1), an international leader in Cyber security, GRC and PCI services today announces a private placement of new shares (“New Shares”) through a directed new share issue to a qualified investor (the “Private Placement”).

The issue of the 13,277,097 New Shares at a share price of €0.226 results in the Company having 292,235,506 issued shares from 278,958,409 previously, a dilution of 4.54% and an increase in share capital of €3,474.770380 to a share capital at today’s date of €76,481.423632.

The investor is JFG Capital B.V. (“JFG” or the “Investor”), who has invested €3,000,000 for the 13,277,097  New Shares in the Private Placement.

The price of €0.226 per share for the Private Placement has been agreed in arms-length negotiation with the Investor, based on a 10-day average of the market share price at a 9% discount.

The Company intends to use the proceeds from the Private Placement to strengthen the working capital position of the Company, as well as to finance continued operations, further development of its cybersecurity service offerings, and corporate expansion.

The reason for conducting a directed new share issue via a Private Placement and thereby deviating from existing shareholders’ preferential rights is as a result of a number of factors, including:

  • the view of the Company’s Board of Directors that, given the current constitution of the Company’s shareholders, a non-directed new share issue would run the risk of not being fully subscribed;
  • the lower costs of the process (including underwriting) of the directed new issue;
  • the timing advantage of a directed new issue, taking into account the current market fluctuations of the Company’s share price; and
  • the desire of the Board of Directors to bring a new, influential shareholder into the Company.

The Board has concluded that the reasons above collectively indicate that it is in the shareholders’ interest, as well as that of the Company as a whole, that the issue of the New Shares is made with deviation from existing shareholders’ preferential rights.

The Private Placement is subject to, inter alia, a resolution by the Board of Directors of the Company and is in line with the authorisation to issue new shares given to the Board of Directors at the AGM on the 28 June 2018.

Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se

 

FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 23.10.2018  at 14:00 CET.

ABOUT CYBER 1

 

CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors

For further information, please visit: https://cyber1.com


Key Current and Future Cyber Security Threats for Organisations

2017 was a year of significant data security breaches worldwide, with organisations at all levels targeted.

 

According to Gartner, the worldwide spend on information security products and services in 2017 was $101.544bn, set to increase to $114bn by the end of this year, followed by $124bn by 2019, representing an almost 20% increase in the space of 2 years (https://www.gartner.com/en/newsroom/press-releases/2018-08-15-gartner-forecasts-worldwide-information-security-spending-to-exceed-124-billion-in-2019).

 

This growth is being driven by multiple factors.

 

In addition to traditional concerns, such as security risk for businesses relating specifically to potential data breaches, there is also growing awareness of the importance of organisational security, both from a financial as well as reputational standpoint for companies, due in no small part to the many high-profile breaches suffered in 2017 and 2018.

 

Even within the previous 2 months, Instagram was subject to a data breach, wherein hundreds of users had their accounts locked and their login emails replaced with Russian addresses. Although the number of users of affected was relatively small compared to Instagram’s user base, the compromise was enough to be reported by international media outlets, causing potentially significant damage to the company’s reputation (https://www.independent.co.uk/life-style/gadgets-and-tech/news/instagram-hack-accounts-russia-take-over-security-locked-how-2018-a8492406.html).

 

In addition to the above, there is also the additional and increasing pressure that exists due to regulatory concerns, most notably evinced by the introduction in May of this year of the EU General Data Protection Regulation (GDPR).

 

GDPR places an increased onus on organisations to responsibly process and protect individuals’ personal data. As such, its arrival is likely to require many organisations, from SMEs to large multinational companies, to develop a more holistic understanding of their security infrastructure, both from a technical perspective, as well as through other means, such as by allocating resources to educating their workforce, and introducing data policies that comply with regulatory requirements.

 

Notwithstanding the greater awareness and concomitant spending that organisations are now undertaking with respect to their cyber security, the nature of the threat against these organisations and, in particular, the sensitive data they hold both in relation to themselves and individuals, is ever-increasing, in sophistication and in scope.

 

In recognition of this growing threat landscape, Cyber 1 introduces the first in a series of articles designed to highlight key cyber security threats of which organisations should be aware, both now and in the future.

 

This week’s article focusses on a very commonplace threat: Business Email Compromise attacks (BECs).

 

Although much cyber security-related news in 2017 focussed on well-publicised ransomware attacks such as WannaCry and NotPetya, Cisco reported at the time in its mid-year cyber security report, that the greater threat to organisations lay in BECs (https://www.computerworld.com.au/article/626254/ransomware-gets-headlines-business-email-compromise-bigger-threat/).

 

These are a form of phishing attack, wherein an attacker impersonates, for example, a senior company executive, and thereby elicits employees to divulge confidential information, sensitive personal or business information, or even facilitate the transfer of company funds.

 

BECs often target large companies and can bypass the often-strong threat defences in place in such organisations, due in part to an absence of malware or malicious links, making purely software-based detection of this threat difficult.

 

BECs rely on social engineering: in other words, targeting the most vulnerable element of a company’s cyber security system, namely personnel. The main defence against BECs is therefore education of employees, as well as ensuring that appropriate disaster recovery mechanisms exist in case of breach.

 

However, to ensure comprehensive protection against these attacks, as is the case with any cyber threat, there is no single answer, technical or otherwise: instead, the corporate network should be considered in its entirety and appropriate safeguards implemented at every level, not just that of the employee.

 

CYBER1, as a 360o cyber security solution that offers products, services and round-the-clock vigilance on behalf of its clients, is well-placed to help organisations better understand their existing infrastructures and facilitate the development of better threat detection and response protocols.

 

It is through these measures that organisations can obviate the risk of the threats mentioned above, and it is in this arena that CYBER1 can assist vulnerable organisations: through its unparalleled combination of technical, regulatory and corporate expertise, CYBER1 is well-suited to offer tailored protection to organisations in diverse industries and jurisdictions.

 

The next edition will look at the risks associated with the use of Application Programming Interfaces (APIs).