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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Falanx Group Limited | LSE:FLX | London | Ordinary Share | VGG3338A1075 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.525 | 0.50 | 0.55 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMFLX
RNS Number : 7942P
Falanx Group Limited
05 September 2017
Falanx Group Limited
("Falanx" or "the Company")
OPERATIONAL UPDATE
Falanx (AIM:FLX), the global intelligence, security, and cyber provider, is pleased to provide an Operational Update prior to the period end.
-- Significant new sales contracts with recurring revenue. Remain on course for operational breakeven this financial year.
o Business on track to reach breakeven during the financial year with sufficient cash to see all current operations through to profitability.
o Falanx Cyber business has secured a new Security-as-a-Service contract with a leading UK-based IT Service Provider, worth more than GBP200k.
o Falanx Assynt has won new multi-year contracts for 'Embedded Analysts' with a large US-based Insurance company and a global high street Retailer of beverages.
-- Launch of full MidGARD capability
o MidGARD is our proprietary Advanced Threat Detection Platform.
o MidGARD is part of our Managed Detection & Response service and underpins our monitoring capability.
o MidGARD Pilot over the last six months is now complete.
o MidGARD v2 - latest and most advanced iteration of the platform and based on the latest open source components - completed on schedule and ready for main launch. Pre-launch briefings and social media campaigns have begun. www.falanx.com/technology/midgard/
o The full MidGARD service will be launched to the market at the UK's leading Cyber Security Conference, 44CON 2017. [ www.44con.com ] from 13(th) to 15(th) September at the ILEC Conference Centre, Earls Court, London. [www.ilecconferencecentre.co.uk ]
o The board believes this highly exciting, disruptive and long-awaited technology will redefine Managed Cyber Security Services. [ www.falanx.com/44con-emerge-shadows/ ]
-- Falanx Intelligence Business Rebranded as Falanx Assynt
o Falanx's highly regarded Intelligence organisation continues to grow and retain the confidence and business of a raft of Blue-Chip companies.
o Today, Stirling Assynt has been rebranded Falanx Assynt to provide more visible joint identity and cross-selling opportunity with other Falanx businesses.
-- New London HQ Opens Today and change of registered address
o In the heart of the City of London, our new HQ at Five Kings House is the new home of Falanx Group and our intelligence business, Falanx Assynt.
o New HQ is close to our financial services clients and provides improved client reception and sales facilities, and more capacity to meet demand across our lines of business.
-- New subsidiaries established in USA and Spain
o New USA subsidiary established to capture, and provide local service for, US clients.
o New Spanish subsidiary established to support Falanx CyberTech and the growth of our software development team, sourcing talent from Spain and wider Europe.
Stuart Bladen, Chief Executive Officer of Falanx, commented:
"It has been an incredibly busy time at Falanx, with key milestones delivered that underpin our business performance going forward. Falanx has secured significant new business contracts with ongoing revenue streams that provides us with confidence to reach operational breakeven during the financial year with sufficient cash to see all current operations through to profitability. We are also delighted to launch both MidGARD and our US service this month whilst our new sales, new HQ and new Falanx Assynt Brand are all key steps in the rapid evolution of our business."
Enquiries:
Falanx Group Limited www.falanx.com Stuart Bladen, Chief Executive Officer --------------------------------- ---------------------- SPARK Advisory Partners Limited Nominated Adviser Matt Davis / James Keeshan +44 (0) 203 368 3551 Turner Pope Investments (TPI) Ltd Joint-Broker Ben Turner / James Pope +44 (0) 203 621 4120 IFC Advisory Ltd Graham Herring Miles Nolan +44 (0) 203 053 8671
About Falanx
Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. The Group listed on AIM in June 2013 under ticker FLX For more information: http://www.falanxgroup.com/
MAR
This announcement contains inside information for purposes of Article 7 of Regulation (EU) No 596/2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDUGUGUBUPMPGC
(END) Dow Jones Newswires
September 05, 2017 02:00 ET (06:00 GMT)
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