Share Name Share Symbol Market Type Share ISIN Share Description
Crossword Cybersecurity Plc LSE:CCS London Ordinary Share GB00BPFJXS57 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 344.00 8 01:00:00
Bid Price Offer Price High Price Low Price Open Price
334.00 354.00 344.00 344.00 344.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 1.31 -2.10 -0.47 20
Last Trade Time Trade Type Trade Size Trade Price Currency
13:59:26 O 8 350.00 GBX

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Date Time Title Posts
19/3/202116:22Crossword Cybersecurity PLC - Best Cyber Security company on the market!65
10/11/202011:15Crossword Cybersecurity28
18/10/201110:33Overlooked, but steadly making excellent progress200
09/3/201009:14Clarity Commerce Solutions Plc31
21/10/200105:36Clarity interim results2

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Crossword Cybersecurity Daily Update: Crossword Cybersecurity Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker CCS. The last closing price for Crossword Cybersecurity was 344p.
Crossword Cybersecurity Plc has a 4 week average price of 321p and a 12 week average price of 277p.
The 1 year high share price is 344p while the 1 year low share price is currently 265p.
There are currently 5,761,890 shares in issue and the average daily traded volume is 2,980 shares. The market capitalisation of Crossword Cybersecurity Plc is £19,820,901.60.
outlawinvestor: CCS is presenting at Proactive One2One Investor Forum on 25 March.
a_game: Looks like CCS has bottomed out and turned the corner - long overdue, this is a fast growing company in a super hot sector lead by top tier management. Been holding since IPO, confident we'll see a great rise here in the months ahead.
a_game: Crossword working with Verifiable Credentials Ltd on its Innovate UK funded project to allow NHS laboratories to issue Covid-19 immunity certificates. ---- It's becoming increasingly clear that vaccine/immunity certificates will be required for many things, in particular, international travel. The work with NHS on this could be a game changer for CCS.
outlawinvestor: Los Angeles Vaccine Recipients Can Put the Proof in Apple Wallet This is more or less what CCS is collaborating on as per 10-Nov RNS. Apparently, global big players like IBM are in the race to implement vaccine record solutions mindful of ethical and privacy concerns.
outlawinvestor: Interesting RNS - almost a year to my last post! What I find particularly pleasing is not so much this POC but the fact that Tom Ilube always seems to have his ear close to the ground and is aware of pretty much all developments in the field. If it were possible I would be interested in exposure to VCL for their IP. It might take some years but one day the value will be realised.
a_game: Good news today, no placing coming. Working capital loan being provided by Directors, current shareholders & 3rd parties! That's how you do it. The prospect of a placing has been holding CCS back recently, this news should hopefully release the brakes.
timbo003: There were probably around 80 attendees at the Proactiveinvetor meeting earlier this evening, Mary Dowd and Jake Hollaway gave the CCS presentation The slides should be available sometime tomorrow. Attendees were given a brief summary of the company, its business and its prospects. They were also told about the recent launch of Rizikon 2.0 and Nixer, their new product that will be launched later this year. The Nixer information was new news (to me). Nixer was developed from a research project conducted at the Imperial College, it addresses the problem that arises after data bases of user names and passwords have been acquired by cyber-criminals. Many individuals use the same user names and passwords for different web sites. It is relatively easy for a cyber-criminal to try out an individual's user names and passwords at various websites which use debit and credit cards for payment for goods or services. By using proxy servers, all log in attempts at a particular web site can be made to look as if they are coming from different PCs. If the cyber-criminal gets a hit, then they are into the account with access to the individual's bank account/credit card. Nixer is a B2B solution for operators of these vulnerable sites. It uses AI and machine learning to assess patterns in an individual customer's online behaviour and then looks out for deviations in that behaviour, which could indicate a hacked account. Like Rizakon, it is provided as SaaS (recurring revenue), running on CCS servers.
a_game: As these fines keep coming, more businesses will turn to CCS for their Rizikon Assurance product - great news for us :) Hoping to add more to my position here over the next few weeks. By far my most comfortable hold. Love how the team are heads down hard working, no hype & bs, no ramping. No one is interested either - buy when quiet ;)
timbo003: As foretold at the ECSC AGM last month ( ) The Information Commissioners Office (ICO) has just handed out the first fine for a security breach under the new GDPR regulations and as anticipated (by the ECSC directors) it is huge! The ECSC BODs view was that the fines imposed by ICO were likely to be very large, mainly for two main reasons: 1) to scare companies into compliance 2) To demonstrate to Brussels that the UK were going to take GDPR very seriously with or without Brexit, so in the event of a hard Brexit, the UK would still participate in data sharing with the EU member states This should be good for business at CCS and at other cybersecurity firms focused on GDPR compliance such as ECSC ……………………… ………………………
timbo003: I have a few of these having purchased shares in the last two placings (March 2018 whilst still on NEX and in December 2018 at the AIM IPO). I attended the AGM last May and wrote up a few notes which I posted on the ShareSoc meetings blog as there was zero interest on ADVFN at the time (see report below) My shares came with EIS tax reliefs, so I will be hanging around for at least the next 2-3 years ######################################################### Crossword Cybersecurity Plc (NEX: CCS) 2018 AGM This year’s Crossword Cybersecurity Plc (CCS) AGM was held at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London EC3V on Wednesday 30th May 2018 commencing at 3.00pm. For investors who are unfamiliar with the company, CCS is a technology commercialisation company focusing exclusively on the cyber security sector, with the technology sourced through collaborations with Universities. CCS was founded in March 2014 by the current CEO, Tom Ilube and then subsequently floated on the now defunct Danish GXG exchange in September 2014 at 145p/share which valued CCS at around £2.1m. The company transferred to the NEX exchange (then known as ISDX) in September 2015 (following the demise of the GXG earlier in the year). There was no fund raise to accompany the NEX IPO which is somewhat unusual, but the last fund raise on the GXG exchange had been at 190p/share in June 2015, valuing the company at around £4.5m. The most recent funding round was in March 2018 raising £2m in an oversubscribed placing and subscription at 270p/share and this corresponded to a post money valuation of approximately £10.8m. The shares are currently quoted at 330 – 400p. Links to the company web site, the latest Annual Report and other useful information are given below: * Web site: * Annual report, financial year ending Dec 2017: * Admission Document: * Recent Interview with Tom Ilube (CEO): * Recent Interview with Sir Richard Dearlove (Chairman): * Recent interview with Prof. David Stupples (NED): There were around 25 attendees at the meeting, which included a number of employee shareholders, the BOD and the usual AGM functionaries. I was the only retail shareholder present and as a result, I ended up asking most of the questions. The Chairman, Sir Richard Dearlove, kicked off the meeting with the formal business. I just had one question for this part of the meeting which concerned resolutions 7 and 8 (allotment of shares and disapplication of pre-emption rights) where I asked what was the maximum number of shares (expressed as a percentage of the existing share capital) that could be issued if these resolutions were approved? The answer was 22%. When it came to the voting, all 8 resolutions were passed unanimously with a show of hands. On the proxy votes, resolutions 1-6 (approval of the accounts, re-election of 4 directors and reappointment of auditors) received 100% in favour and resolution 7 and 8 received 84% in favour (16% against). The CEO then gave a 30 minute presentation which included a brief synopsis of the previous financial year (ending Dec 2017) during which time the BOD was strengthened and a new sales force established. The headcount now includes 10 staff deployed in sales (based in the UK) and 8 in R&D (based in Poland). Group revenues doubled to £737K and 2018 has got off to a very strong start with most of the new revenue coming from Rizikon Assurance (a new B2B cybersecurity solution for medium to large enterprises) which is expected to be the main engine of growth over the next couple of years. The presentation also included a brief outline of the company’s strategy which is to select the most promising cybersecurity technology solutions emanating from collaborating Universities and to monetize these technologies either through in-house development and subsequent product launch, or through JVs with the Universities. The company has collaborative agreements with 10 different Universities (8 UK, 1 Swiss, 1 USA) but there are no immediate plans to add more. The main target market for resulting Cybersecurity products is medium to large Commercial Enterprises and CCS has just launched Rizikon, which is their first product arising from one of the University Collaborations. Rizikon enables a client company to monitor the cybersecurity risks and other risks such as GDPR compliance arising from their supplier base. The product is currently sold in two formats: Rizikon Standard (for SMEs) and Rizikon Assurance (for medium to large enterprises) and it is currently the only commercial software solution available which specifically addresses these particular problems. Rizikon is supplied on a SaaS basis with a subscription charge of up to up to £30/supplier/annum for large businesses. There are an estimated 10,000 UK businesses with revenues of £25m or more and these businesses could each have between 1,000 and 5,000 suppliers, so the addressable UK market is conservatively estimated at around £300m. If Rizikon Assurance were to capture just 5% of the UK market, it could translate to revenues of circa £15m /year; furthermore, Rizikon should be suitable for roll out to many other major geographical markets, subject to making appropriate changes for each local market. The company is also actively looking at the possibility of signing on with a large partner to assist in distributing the product and this should lead to additional sales. During the year CCS launched a major new initiative, CyberAI, which is looking at applying Artificial Intelligence to real world Cybersecurity problems. Three Universities and several large Financial Services firms are closely involved with the project and it is anticipated that the output from CyberAI will help feed the product pipeline for the next few years. The initial output comprised of a short list of initiatives which were subsequently whittled down to just one, this will be tested for Proof of Concept later this year and then hopefully undergo further development next year with the objective of ending up with a new innovative cybersecurity software product for SaaS commercialisation. Following the presentation there was a Q&A session which lasted for 20 – 30 minutes before the meeting closed (see Q&A summary details below). After the meeting most of the attendees stayed around for coffee and biscuits and this gave me a chance to talk to some of the Senior management including the CFO and COO. I also spoke with Professor David Stupples (NED), who was responsible for the work leading up to the development of Rizikon and also the Sir Richard Dearlove (Chairman), who was the Head of MI6 from 1999 – 2004. Q&As Q: CCS appears to be a hybrid between a software developer deriving revenues from SaaS and an Investment company which owns equity stakes in university spinouts. As a general rule, the market tends to rate the former a lot higher than the latter, Is this reflected in your priorities? A: Yes, we prefer to licence technology and develop it ourselves rather than take equity stakes in University spinouts, however, sometimes a University may insist on the latter. We aspire to have perhaps 6 Rizicon type products either launched, or in development in the next 3 – 4 years. Q: You talked about taking on a large partner to assist Rizicon sales and eventually other SaaS products. What sort of companies are these large partners and can you expand on how such a partnership might work? A: The partner could be an IT services company, or maybe one of the big four accountancy firms. One such potential partner we have spoken to is a US based IT Service Company, employing 200K staff worldwide and with a turnover of around $15Bn. Any large partner would probably want to see revenue potential of £30m – £40m before signing up. The industry norm would be to split revenues, with up to 75% going to the software developer (CCS in this case), but there would be no upfront fee payable on initiation of a partnership deal. Q: Who are the nearest competitors and what barriers to entry are there for a new entrant in the future? A: Rizikon is the only purpose built software in this space, the technology came from City University London and the algorithms were inspired by software used in the nuclear safety industry. The work performed to develop the software has not been published; therefore it would not be easy to reproduce. Parts of the SAP Ariba software solution are probably the closest thing there is to a competitor. Q: Who do you target during the sales process for Rizikon? A: Typically we talk to the Heads of Procurement, but on occasions it may be the Head of Security or Head of Quality Assurance. Q: You talked briefly about a possible AIM IPO, this sounds like an excellent idea as it would assist liquidity as CCS shares are rarely traded on NEX and many popular online brokers will not deal in NEX shares, so what are the chances that an IPO will go ahead? A: We are actively exploring the possibility for an AIM IPO for later this year. The likelihood of this occurring will depend on market conditions, which could be influenced by macro factors such as the outcome of Brexit negotiations. Summary When I acquired my CCS shares in the March 2018 placing, I knew very little about the company and there was very little time for due diligence after I was made aware of the placing opportunity, however, I do firmly believe that demand for effective cybersecurity is only ever likely to increase, as cyber criminals develop ever more innovative and sophisticated techniques to carry out their illegal activities. Furthermore, the placing shares were offered at an attractive 30% discount and they came with EIS tax reliefs, so despite my lack of background knowledge on the company, I took the decision to invest. Unfortunately (for me) the scale back on the placing shares was around 60% (presumably due to demand) so I ended up with somewhat less shares than I originally requested. This AGM was the first opportunity I had to meet the management and to learn more about the business. The company is still at an early stage of development, it is loss making and the revenues are still small (albeit growing rapidly). However, the Management and Directors do appear very capable and the plans to grow the business seem realistic. I was pleased to learn about the intended AIM IPO later this year and assuming the switch to Aim is accompanied by another attractively priced (EIS qualifying) share placing, I will almost certainly apply for more shares in the IPO should the opportunity arise. #########################################################
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