Cyber Security 1 Ab: Notice Of Material Change In Cyber1 Group Subsidiaries

 
TIDMCYB1 
 
 
   Notice of Material Change in Cyber1 Group Subsidiaries 
 
   London United Kingdom -- 16 April 2020 -- Cyber Security 1 AB (Publ) 
(the "Company") ("CYBER1") (Nasdaq First North: CYB1), hereby notifies 
the market that its previously acquired subsidiaries Itway Turkey and 
Itway Greece have been released back to Itway S.p.A, who have now 
reassumed ownership of the subsidiaries. 
 
   The two subsidiaries (Itway Turkiye and Itway Hellas S.A), were acquired 
by CYBER1 in a transaction in late 2018.  As part of the transaction, 
the parties had agreed that where CYBER1 was not able to pay certain 
amounts that had been adversely affected by a material change in the 
CYBER1 share price, Itway S.p.A would have the right to reacquire the 
subsidiaries for a nominal amount. 
 
   CYBER1 paid a total of EUR2.6m in cash and delivered a total of 
16,666,666 CYBER1 shares at EUR0.48 per share to Itway S.p.A pursuant to 
the agreements underpinning the transaction.  Despite having delivered 
on certain aspects CYBER1 was following a protracted, and in the end 
unfortunately unsuccessful negotiation with Itway S.p.A, ultimately not 
able to honour certain post-completion conditions of the transaction. 
Itway S.p.A have therefore, in accordance with the terms of the 
agreements, notified the Company of their immediate exercise of the 
option to reacquire the assets. 
 
   The Company will in due course provide an update on the wider 
ramifications of the unwinding of the transaction and will specifically 
provide an update on a course of action which will include the exercise 
of any of its rights under the agreements to recover monies paid to 
Itway S.p.A and the return of the CYBER1 shares delivered as part of the 
transaction. 
 
   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 16.04.2020 at 18:00 CET. 
 
   Mangold Fondkommission AB is the Company's Certified Adviser. 
 
   Telephone: [phone] E-mail: 
https://www.globenewswire.com/Tracker?data=-ayS4_XKTYyv5rtJ9WpRrGHfwPrm7RYMS4NAKJAbauhxGL_PNILq-w4tFUoYG7kgeuL-VZL-N0Iabs0my2E7IpPNICGwcFmJZnttEDRTNS1EMaVV6BIC9Ff0g9k5Bm_V4LFhELRsyJcmgjV2IMRAjLWWgWvP5WnJuTOwbXzeVyLr195ZT9uouEtZcIXs0LdTYfUhGVowNGEbMKNYVtYSQt_BcGidzKnV2R1yeZPVlsM= 
[e-mail] 
 
   FOR FURTHER INFORMATION, PLEASE CONTACT: 
 
   European Investor Relations Contact: 
 
   Tim Metcalfe / Zach Cohen 
 
   CYBER1 Email: 
https://www.globenewswire.com/Tracker?data=4t09QY3jSN_6P0WUz1CbguJcL8Bt6uTtFeAWfMFP9skE8cFOeZpOA8mm8UGGMswPKvAvQkWnwmuIMBFjL6pBFh_BLmteJuFeyJJ0GeF-5ALH4FUsesiNY_DM1S3HbQbDluHRsJsw54NnzpXHTVO8mOIIYLu0GY6ko-nWzkPnNsClZjQI4zcm8q8v2_Qo3gBY_KNbrSxa4zrrd5qj_ADRaUP6tCBVLDYdZx58LR3QvXyu7ztuWYV-bdQutnkH-ce4PwrAOP3LXZj5UbaeH5iIFXBPiUTGWr1AK8nN2S_Oruo= 
[e-mail] 
 
   US-Investor Relations contact, CYBER1 
 
   Matt Glover: U.S Investor Relations contact, CYBER1 
 
   Email: [e-mail] 
 
   ABOUT CYBER1 
 
   CYBER1 is engaged in providing cyber resilience solutions and conducts 
its operations through physical presences in UK, Sweden, Kenya, South 
Africa, United Arab Emirates and the United States. Listed on Nasdaq 
First North Growth Market (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 68.73m EUR in 
2019. For further information, please visit 
https://www.globenewswire.com/Tracker?data=x23QAxMhd5qAEcMWz49vChDPB5sDTfcUKqRpweo7DB9jIzEj7SFgG9rimfvOdGMjjnGDdmfqQvfjmBle0Aq0dGB-067UVgry2X58N03LpTJx-0_L9wiTqhXa_IYpEqVzCqKyZZokE_2EnnBeW3TQdBlP7YI7nNVftMXMswI7O4FC0oZqmm27cezWFtNKTWvxlTHow8WiFmmfev-yY7KSG3HKVB-d9J8GUSu10WP7FwnHc3YqFhSd4nG_8eAbxn5g8pR8UZwzTJG_acX2onKaLchxzJsqr74Tp2dAZl5K3SkX_rO6tTdpaDstA0KC0nZEYCutgVFZYV-y_mfe0AxueiAPqkVHhD5SUrIYDXGwzrJDTTqY8h2cAOdgF98aFzFQNBt6tO2-bGiwbBiyCYymmHQuWcCEvW8PNDC8dnIjhAc1rwYJH8NmzV_cVpwEYb69MjLOgXm4u8q2SxGnB5-LM-GvSyRVchQdQm0OmnClYWxgUl-YjK47gsoTSLUVu9nh 
www.cyber1.com/investors. 
 
   For further information please visit: 
https://www.globenewswire.com/Tracker?data=x23QAxMhd5qAEcMWz49vCu6nJ2kYrTB8MhxEb-_xCUkTaomO5AAhlCcIuAShDmpSyF47x5Muc2_8vY0eLFL7R8RBQTw57rlCl--xNC1iE35LYT1CvMmzu_YiUU9NAS5StqcSey3kmBl5B-nuvWKfg6epg367rVaCIBfKaTeQj2mcUuI0YRfdx0KBGQD8-yQpeEX3RHh6KAHUUvRNNd_w-F4qikQ90zhJ5lUS2sk3nu4HWmQpMEvvaBD0cHkqe7OHDWEoUk3A6W1ZxH74wCfVsCg3lWD1WEb_lceaTCI-UHL56wwSlgZTlW_1B9goGmFIkV4vv_2V5_hT0zywb58p591Ja4R4xt0xR7glo6cbPtv2GXS3ak3E7EeK0Y9BUh_6hs65ohVSySSS2CwF1ag95Baf39d8ZlQfJya9fzW-AbBlKNerM3Y_0s__oVRnouEfYOJO3BLs6L23MOLhlg23L6QArPm3Fcds4UYnforAn6Vg13k_JR2pVEfiB5_zx8qqk23V-sUpJd6jYxNXVEMByqAPMvdvAWCmFdd2XHA81EykrimV4uPCFdvIRKSnwAnd28VQVPnQHqfMqImb_v2q_FWnMZZKcSewmWWBXJhyVYUdc5bjg1I9I4B5d3f22mFv216QcgtlRv6JBIQsFY8QY_qGqK0Uu6HJqW5A2vaw4Zfsdm0HUlzMLXadF8x-1Dhe1JfZRVI8y7VfMq9LPC80W2lKX3F1n6uH4eiu_fC_wtfQjXDne5LGxftapYzWnXdPuGxIQRlCd2goPFWreKgmeGE1f8CiCR0OzCL15krN8EOxpswt0ZDACl31GgZJx5LEOJymsUldj-6oWqtmgopSEgEodbjvPjJlZhUWyWST4hqfrVgtQ8b2fSg8sIMG5F0bZCXvPpTNJRVPwmdYLCo72HcTOZYF3RM3L0x2y06j04DmlXPTpq7Wdifm6IHb_Ach5vb-3y-qT9pnp_G8dKK1l_PbxJoZmBa_6U2nBEv8gM0g9WEyo-g6q8SYLGrmViEFhSQ0lQAIE9ETo24B1Nygp_jMTs9zpcXmlE7pAlMklwkcXF0J2WT0hVegQpLpp7PCjnL-rc5dCkr6X33TKlmpRlhyRReQLL_TqgtxARLWsMo7xPTI4EXI3UXm4Tp7vj1boORtCKzJeRNMqkmdoQ5q0tMOHtZTjyavC-QKGz2dbqPTjm8MLtK5cvzSQf0HoYKYKtlGtLrWxWjEtMt4CJdzhPrXgfXMnbfAdJXIJ9Oqc64eDVuURchYoIN67TGlYFdq-SFmC96JTAxNRQs0OKCDrQ0OfSpeW-p95NKz3o2okOxfYSbukjn3GY9B_OPVPezfxCYufhU9-g769l1typ-yEKVE5EtRo7hus9fQE6NFOB14GIz9oGvlnYKwMgt4Lk3EAx3znAFYslY8We9ULMXrKrlIqI0r17zMj5z3RulA1qncnT9XmtoFq2Sac9BUK6kz5i8zFdeyOEPOSYqVBt80zQ== 
www.cyber1.com 
 
   For all company filings and reports, please visit: 
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https://cyber1.com/cyber1-investor-information/ 
 
 
 
 
 
 
 
 

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April 16, 2020 12:00 ET (16:00 GMT)

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