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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Defenx Plc | LSE:DFX | London | Ordinary Share | GB00BYNF4J61 | ORD GBP0.018 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.60 | 0.50 | 2.70 | 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
TIDMDFX
RNS Number : 6075C
Defenx plc
01 October 2018
1 October 2018
Defenx PLC
("Defenx" or the "Company" or the "Group")
Unaudited Interim Results for the six months ended 30 June 2018
Set out below are the interims results for Defenx for the six months ended 30 June 2018.
Chairman's Statement
We are releasing the unaudited interim results for the six months ended 30 June 2018 alongside our annual report and accounts for the year to 31 December 2017 ("2017 Accounts").
As documented in detail in the 2017 Accounts, the Group has been focused on addressing performance and back-end integration issues in respect of its products in the year to date. The Group has also been enhancing its product portfolio as part of its Defenx 2020 strategy, and we currently anticipate launching new products in Q1 2019.
This has resulted in there being minimal customer invoicing during H1 2018 and revenue for the period relates predominantly to the release of previously deferred income and this is expected to continue in H2 2018. Given this backdrop, we have sought to minimise operating overheads during the period.
The reduction in trading activity has also been accompanied by a cessation of marketing contributions to distributors. A as a result, at an operational level, the loss for the half year is very similar to the corresponding period in 2017. However, 2018 bears additional interest costs in relation to the bonds issued in August 2017, whilst there was a substantially larger tax credit in 2017.
The major changes in the statement of financial position are primarily attributable to the comprehensive impairment provisions made at 31 December 2017 as detailed in the 2017 Accounts. Following the period end, settlement agreements were reached with four of the Group's B2B2C customers. The agreements waive the parties' claims against each other, set out payment schedules for the collection over a period of up to 48 months of approximately 20.4% of the EUR4.41 million in dispute at 31 December 2017 and committed the Group to exchange specified unsold inventory held by the customers for new products, such new products being subject to normal commercial warranties. Accordingly, the Directors considered that no further provision were warranted as at 30 June 2018.
Board
In the year to date, there have been a number of changes to the Board and senior management. As previously announced, this has resulted in me becoming interim Executive Chairman in May and Raffaele Boccardo assuming the role of interim Executive Deputy Chairman in July. At the same time, Clive Eplett was appointed as interim Chief Financial Officer. Board departures in the period have resulted in one-off costs of, in aggregate, EUR250,000.
Following the period end, we were delighted to welcome Nic Hellyer and Giorgio Beretta, two high calibre individuals, as independent Non-executive Directors and chair of the Remuneration and Audit Committees respectively, filling the vacancies left by Leonard Seelig.
The Board are seeking to identify and recruit the right team to deliver our strategy and drive value for all stakeholders and we look forward to keeping shareholders updated on our progress particularly with regard to the appointment of a CEO and a permanent CFO.
Funding
During the period, the Company raised GBP1.2 million (gross) (approximately EUR1.38 million) for general working capital purposes by way of a subscription and open offer, pursuant to which the Company issued 14,962,899 new ordinary shares at a price of 8 pence per share. Following BV Tech SpA's ("BV Tech") participation in the fundraise, BV Tech's interest in the Company increased to 54.7% of the Company's issued share capital.
The Group has today secured further funding of EUR0.95 million via an unsecured loan from BV Tech. The loan, which accrues interest at a rate of 6% per annum, will be used for general corporate purposes. The Board anticipates that the loan will shortly be replaced by a convertible loan from BV Tech of the same quantum and on the same material terms. Conversion of the convertible loan into ordinary shares is subject to shareholders providing the Directors with authority at the upcoming annual general meeting on 31 October 2018 to allot such shares on a non pre-emptive basis.
Outlook
As a result of the issues raised above and detailed in the 2017 Accounts, the results for 2018 are expected to show minimal revenues and an operating loss. However, as a result of the initiatives put in place as part of Defenx 2020, the Board believes that the business will become cashflow positive during 2019.
Following the publication of the 2017 Accounts and these interims, the Company is pleased to announce that it is expected that trading in the Company's ordinary shares on AIM will be restored at 7:30 a.m. on 2 October 2018.
Anthony Reeves
Executive Chairman
1 October 2018
Enquiries
Defenx PLC Anthony Reeves -Executive Chairman Clive Eplett - Interim Chief Financial Officer 020 3769 0687 Strand Hanson Limited (Nominated and Financial Advisor) Stuart Faulkner / Richard Tulloch / James Bellman 020 7409 3494 WH Ireland (Joint-Broker) Adrian Hadden / Jessica Cave 020 7220 1666 IFC Advisory (Financial PR and IR) Graham Herring / Tim Metcalfe / Heather Armstrong 020 3053 8671
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.
About Defenx
Founded in 2009, Defenx is a cyber-security software group that offers a range of Security, Backup and Protection solutions for smartphones, PCs and networks.
Website
www.defenx.com/company/investors
Unaudited Interim Condensed Consolidated Statement of Comprehensive Income
Hot Features
Premium
6 months ended 6 months ended Year ended
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
Note EUR000 EUR000 EUR000
Revenue 5 701 3,134 2,928
Cost of sales 6 (670) (965) (2,553)
---------------------- ---------------------- ----------------------
Gross profit 31 2,169 375
Other operating income 6 101 - 772
----------------------- ----------------------- -----------------------
Sales & marketing expenses 6 (182) (2,411) (1,975)
Research, development & operations'
expenses 6 (514) (451) (712)
Administrative expenses 6 (947) (619) (906)
Impairment of trade receivables - - (3,020)
Impairment of intangible fixed
assets - - (6,286)
Operating expenses before
transaction
costs (1,643) (3,481) (12,899)
----------------------- ----------------------- -----------------------
Operating loss before transaction
costs (1,511) (1,312) (11,752)
Transaction costs 6 - (101) (101)
--------------------- --------------------- ---------------------
Loss from operations (1,511) (1,413) (11,853)
Finance income - - 1
Finance expense (138) (68) (184)
---------------------- ---------------------- ----------------------
Loss before tax (1,649) (1,481) (12,036)
Income tax credit 5 325 235
---------------------- ---------------------- ----------------------
Loss for the period (1,644) (1,156) (11,801)
---------------------- ---------------------- ----------------------
Attributable to:
Equity holders of the parent (1,598) (1,146) (11,641)
Non-controlling interests (46) (10) (160)
---------------------- ---------------------- ----------------------
Total comprehensive loss for the
period (1,644) (1,156) (11,801)
=========== =========== ===========
Loss per share
Basic 7 (EUR0.069) (EUR0.097) (EUR1.030)
Diluted 7 (EUR0.067) (EUR0.095) (EUR0.976)
Unaudited Interim Condensed Consolidated Statement of Financial Position
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
Note EUR000 EUR000 EUR000
Non-current assets
Property, plant and equipment 136 124 135
Intangible assets 8 4,320 11,593 4,904
Government grant 1,522 - 1,596
---------------------- ---------------------- ----------------------
5,978 11,717 6,635
---------------------- ---------------------- ----------------------
Current assets
Trade and other receivables 9 1,218 4,387 1,243
Government grant 168 - 179
Cash and short-term deposits 791 218 951
---------------------- ---------------------- ----------------------
2,177 4,605 2,373
---------------------- ---------------------- ----------------------
Total assets 8,155 16,322 9,008
=========== =========== ===========
Current liabilities
Trade and other payables (1,146) (588) (851)
Deferred revenue (392) (385) (621)
Loans and borrowings 10 (379) (1,417) (663)
Deferred consideration - (381) -
Income taxes payable (389) (398) (385)
---------------------- ---------------------- ----------------------
(2,306) (3,169) (2,520)
---------------------- ---------------------- ----------------------
Non-current liabilities
Deferred revenue (744) (235) (887)
Loans and borrowings 10 (1,423) (242) (1,533)
Deferred tax liabilities (37) (47) (42)
---------------------- ---------------------- ----------------------
(2,204) (524) (2,462)
---------------------- ---------------------- ----------------------
Total liabilities (4,510) (3,693) (4,982)
=========== =========== ===========
Net assets 3,645 12,629 4,026
=========== =========== ===========
Capital and reserves
Called up share capital 11 601 264 287
Share premium 11 12,329 9,583 11,370
Merger reserve 1,641 1,641 1,641
Shares to be issued reserve - - 37
Convertible bond option reserve 164 - 164
Share based payment reserve 237 183 210
Retained earnings (11,146) 947 (9,548)
---------------------- ---------------------- ----------------------
Attributable to equity holders
of the parent 3,826 12,618 4,161
Non-controlling interests (181) 11 (135)
---------------------- ---------------------- ----------------------
Total equity 3,645 12,629 4,026
=========== =========== ===========
Unaudited Interim Condensed Consolidated Statement of Changes in Equity
Convertible
Shares bond Share
Share to be option based
Share premium Merger issued reserve payment Retained Non-controlling
capital account reserve reserve reserve earnings Total interests Total
EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 EUR000 EUR000
As at 1
January
2018 287 11,370 1,641 37 164 210 (9,548) 4,161 (135) 4,026
Share based
payments - - - - - 27 - 27 - 27
Loss for the
period - - - - - - (1,598) (1,598) (46) (1,644)
Shares
issued 314 959 - (37) - - - 1,236 - 1,236
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
As at 30
June 2018 601 12,329 1,614 - 164 237 (11,146) 3,826 (181) 3,645
(unaudited) ========== ========== ========== ========== ========== ========== ========== ========== ========== ==========
As at 1
January
2017 197 5,542 1,641 - - 156 2,093 9,629 21 9,629
Share based
payments - - - - - 27 - 27 - 27
Loss for the
period - - - - - - (1,146) (1,146) (10) (1,146)
Shares
issued 67 4,041 - - - - - 4,108 - 4,108
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------
As at 30
June 2017 264 9,583 1,641 - - 183 947 12,618 11 12,629
(unaudited) ========== ========== ========== ========== ========== ========== ========== ========== ========== ==========
As at 1
January
2017 197 5,542 1,641 - - 156 2,093 9,629 21 9,650
Loss for the
year - - - - - - (11,641) (11,641) (160) (11,801)
Shares
issued 90 5,828 - - - - - 5,918 4 5,922
Shares to be
issued - - - 37 - - - 37 - 37
Convertible
bond
issue - - - - 164 - - 164 - 164
Share based
payments - - - - - 54 - 54 - 54
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------
As at 31
December 287 11,370 1,641 37 164 210 (9,548) 4,161 (135) 4,026
(audited) ========== ========== ========== ========== ========== ========== ========== ========== ========== ==========
Unaudited Interim Condensed Consolidated Cash Flow Statement
6 months ended 6 months ended Year ended
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
EUR000 EUR000 EUR000
Cash flows from operating activities
Loss for the period after taxation (1,644) (1,156) (11,801)
Income tax (credit)/expense (5) (325) (235)
---------------------- ---------------------- ----------------------
Loss before tax (1,649) (1,481) (12,036)
Net interest expense 138 68 184
Depreciation of property, plant
and equipment - 22 47
Amortisation of intangible assets 590 865 1,292
Impairment of intangible assets - - 6,286
Impairment of trade receivables - - 3,020
Share based payments expense 27 27 54
---------------------- ---------------------- ----------------------
Operating cash flows before movements
in working capital (894) (499) (1,153)
---------------------- ---------------------- ----------------------
Decrease in trade receivables 284 1,146 1,011
Increase/(decrease) in trade and
other payables 75 (801) (1,738)
(Decrease)/increase in deferred
revenue (457) 28 (86)
---------------------- ---------------------- ----------------------
(98) 373 (813)
---------------------- ---------------------- ----------------------
Interest paid (84) (68) (146)
Tax paid (6) (62) (215)
---------------------- ---------------------- ----------------------
Net cash flow from operating activities (1,082) (256) (2,327)
---------------------- ---------------------- ----------------------
Investing activities
Purchase of property, plant and
equipment (1) (4) (51)
Development costs - internally
developed (6) (1,805) (1,828)
---------------------- ---------------------- ----------------------
Net cash used in investing activities (7) (1,809) (1,879)
---------------------- ---------------------- ----------------------
Financing activities
Net proceeds from issue of share
capital 1,377 1,397 3,440
Proceeds from borrowings - 5 1,750
Repayment of borrowings (426) (254) (1,070)
---------------------- ---------------------- ----------------------
Net cash from financing activities 951 1,148 4,120
---------------------- ---------------------- ----------------------
Net decrease in cash and cash
equivalents (138) (917) (86)
Cash and cash equivalents at beginning
of period 929 1,015 1,015
---------------------- ---------------------- ----------------------
Cash and net cash equivalents
at end of period 791 98 929
=========== =========== ===========
Notes to the Unaudited Interim Condensed Consolidated Financial Statements
1. General information
Defenx PLC is a public limited company incorporated in England and Wales, registration number 08993398, which is quoted on AIM. Its principal activity is the design and sale of software solutions for the mobile, PC and network that provide privacy and security for an online world. Management and control is exercised from the UK and its main countries of operation are Italy and Switzerland.
2. Basis of preparation
The unaudited interim condensed consolidated financial statements for the six months ended 30 June 2018 have been prepared in accordance with IAS 34 Interim Financial Reporting and do not constitute statutory financial statements. They do not include all the information and disclosures required for a complete set of IFRS financial statements, and should be read in conjunction with the Group's annual financial statements as at 31 December 2017. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last financial statements.
These unaudited interim financial statements were authorised for issue by Defenx's Board on 1 October 2018.
3. Accounting policies
There have been no changes to the accounting policies and methods of computation in these financial statements compared with those of the previous full year.
Note: IFRS 15 Revenue from contracts with customers, became effective for annual periods beginning on or after 1 January 2018. Having assessed the commercial arrangements with customers in the context of IFRS15, the Board concluded that the existing accounting policy and methodology continues to be equally appropriate under the new accounting standard. Accordingly, no change in accounting treatment arises or has been applied as a consequence of IFRS 15 and no adjustment made to either sales or deferred revenue.
4. Seasonality
Historically, the Group's revenue generated by and marketing contributions paid to channel partners was subject to seasonal trends.
A larger proportion of the annual marketing contributions arose in the first half of the year to support channel partners, who in turn generated higher sales in the second half of the year driven by the back-to-school market, annual hardware release cycles and Christmas trading. This typically lowered revenues and profits for the first half of the year. The Group sought to mitigate the seasonal impact by incentivising sales in the first half of the year.
Changes in the trading relationships with those distributors resulted in marketing contributions not being made in 2018, negating most of this seasonal characteristic.
5. Revenue
Revenue for the full year was impacted by the return of EUR1.03 million in invoiced sales from the first half of 2017, as a consequence of delays in the delivery of product updates to address performance issues in the Group's security products.
6. Loss from operations
6 months ended 6 months ended Year ended
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
The operating loss is stated
after charging: EUR000 EUR000 EUR000
Cost of sales
Amortisation of intangible assets 590 865 1,292
=========== =========== ===========
Other operating income
Research & development tax credit
income (101) - (772)
Sales, marketing and administrative
expenses
Marketing contributions 5 2,232 1,550
Impairment of trade receivables - - 3,020
Depreciation of property, plant
and equipment - 22 48
Impairment of intangible assets - - 6,286
Staff costs 679 599 1,278
Auditors' remuneration - audit
services 22 17 49
Auditors' remuneration - non-audit
Services 2 2 9
Share based payment expense 27 27 53
Bad debt expense - 104 -
Lease payments - land and buildings 49 52 116
Net foreign exchange losses/(gains) 7 16 (61)
AIM-related expenses 100 113 234
=========== =========== ===========
Transaction costs
Legal & professional fees in
respect of the
BV-Tech SpA strategic partnership - 101 101
=========== =========== ===========
7. Loss per share (EPS)
Basic EPS amounts are calculated by dividing the profit for the period attributable to ordinary equity holders of Defenx by the weighted average number of ordinary shares outstanding during the period.
Diluted EPS amounts are calculated by dividing the profit attributable to ordinary equity holders of Defenx by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive deferred shares, the exercise of options and crystallisation of the contingent share consideration.
The following reflects the income and share data used in the basic and diluted EPS computations:
6 months ended 6 months ended Year ended
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
EUR000 EUR000 EUR000
(Loss)/profit attributable to
ordinary equity holders of Defenx
PLC for basic and adjusted EPS (1,580) (1,146) (11,641)
=========== =========== ===========
Weighted average number of Ordinary
Shares for basic EPS (thousand) 22,905 11,777 11,237
Effect of:
- dilution from convertible
bond 625 - 625
- dilution from share options - 72 -
and warrants
- contingent shares on acquisition - 238 -
of Memopal Srl
---------------------- ---------------------- ----------------------
Weighted average number of Ordinary
Shares for 23,530 12,087 11,862
diluted EPS (thousands) =========== =========== ===========
8. Intangible Assets
Goodwill Development Customer Total
costs relationships
EUR000 EUR000 EUR000 EUR000
Cost
At 1 January 2018 1,139 12,635 354 14,128
Additions - - - - -
internally
developed
Additions -
purchased - 6 - 6
---------------------- ---------------------- ---------------------- ----------------------
At 30 June 2018 1,139 12,641 354 14,134
=========== =========== =========== ===========
Accumulated
amortisation
At 1 January 2018 1,139 7,731 354 9,224
Amortisation
charge - 590 - 590
--------------------- ---------------------- ---------------------- ----------------------
At 30 June 2018
(unaudited) 1,139 8,321 354 9,814
=========== =========== =========== ===========
Net book value
At 30 June 2018
(unaudited) - 4,320 - 4,320
=========== =========== =========== ===========
At 30 June 2017
(unaudited) 1,139 10,208 246 11,593
=========== =========== =========== ===========
At 31 December
2017
(audited) - 4,904 - 4,904
=========== =========== =========== ===========
The intangible assets booked represent qualifying expenditure on the development of software for resale less accumulated amortisation and impairment costs. The carrying value of these intangible assets is tested for impairment on a half yearly basis, or when there are indications that the value of the assets might be impaired.
The Directors have assessed development projects' individual net present value against forecasts of future sales of the related products, unit sales prices and costs over a five-year period. No sales beyond five years have been included in the calculations. The impairment tests are sensitive to changes in these forecasts and changes could result in impairment; however, the varying bases indicate a net present value in excess of the carrying value of the intangible assets at the balance sheet date.
9. Trade and other receivables
6 months ended 6 months ended Year ended
30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
EUR000 EUR000 EUR000
Gross trade receivables 4,682 4,491 4,833
Offset deferred revenue (454) - (619)
Provision for impairment (3,217) (301) (3,217)
---------------------- ---------------------- ----------------------
Net trade receivables 1,011 4,190 997
Other receivables 207 197 246
---------------------- ---------------------- ----------------------
Total receivables 1,218 4,387 1,243
=========== =========== ===========
Provisions for impairment
Opening balance (3,217) (197) (196)
Utilised during the period - - -
Net increase during the period - (104) (3,021)
---------------------- ---------------------- ----------------------
Closing balance (3,217) (301) (3,217)
=========== =========== ===========
10. Loans and borrowing
The book and fair value of interest bearing loans and borrowings was:
Ultimate 6 months ended 6 months ended Year ended
maturity 30 June 2018 30 June 2017 31 December
Unaudited Unaudited 2017
Audited
EUR000 EUR000 EUR000
Current
Overdrafts On demand - 25 22
On demand - 95 -
Invoice discounting Up to 120
facility days - 94 77
Supply chain facility Up to 90 - 504 -
days
Bank loans - unsecured 30/06/2019 203 197 200
Bank loans - unsecured 22/11/2021 123 - 122
Vendor loans from
business combinations 31/07/2018 53 502 242
---------------------- ---------------------- ----------------------
379 1,417 663
---------------------- ---------------------- ----------------------
Non-current
Bank loans - unsecured 30/06/2019 - 203 103
Bank loans - unsecured 22/11/2021 306 - 368
Vendor loans from
business combinations 31/07/2018 - 39
Convertible bonds 31/08/2020 1,117 - 1,062
---------------------- ---------------------- ----------------------
1,423 242 1,533
---------------------- ---------------------- ----------------------
Total loans and borrowing 1,802 1,659 2,196
=========== =========== ===========
Overdrafts and other short term facilities, excluding the supply chain facility, attract variable interest at between 3% and 6% per annum. The supply chain facility, denominated in Sterling, attracts a fixed rate of interest of 1.65% per month. The bank and vendor loans, both denominated in Euros, attract interest at 3% over 3-month EURIBOR and at 8% fixed per annum respectively.
The average effective interest rate for the period ended 30 June 2018 was 7.5% (30 June 2017: 10.2%).
At 30 June 2018, the Group had available EUR270,000 (30 June 2017: EUR123,331) of undrawn committed borrowing facilities. Of this amount, EUR250,000 relates to supply chain facility, use of which is dependent on applicable sales invoicing.
11. Share capital
Number of Share capital Share premium
shares
EUR000 EUR000
As at 1 January 2018 12,952 287 11,370
Issue of new ordinary shares
- BV-Tech SpA 11,777 244 840
Issue of new ordinary shares
- Open offer 3,186 66 227
Issue of new ordinary shares
- MBooster 243 4 51
Equity issue costs - - (159)
------------------------ ------------------------ ------------------------
As at 30 June 2018 (unaudited) 28,158 601 12,329
As at 1 January 2017 8,618 196 5,542
Issue of new ordinary shares
- BV-Tech SpA 3,144 68 4,041
Issue of new ordinary shares
- MBooster 22 - 37
Equity issue costs - - (59)
Exercise of Warrants 15 - 22
------------------------ ------------------------ ------------------------
As at 30 June 2017 (unaudited) 11,799 264 9,583
============ =========== ===========
The ordinary shares of GBP0.018 carry the right to one vote per share at general meetings of the Company and the rights to share in any distribution of profits or returns of capital and to share in any residual assets available for distribution in the event of a winding up. The shares are denominated in Sterling.
12. Events after the reporting date
During October 2018, settlement agreements were reached with four B2B2C customers. These agreements waived the parties' claims against each other, set out payment schedules for the collection over a period of up to 48 months of approximately 20.4% of the EUR4.41 million in dispute at 31 December 2017 and committed the Group to exchange specified unsold inventory held by the customers for new products, such new products being subject to normal commercial warranties.
On 1 October 2018, the Company entered into a EUR0.95 million unsecured loan agreement with BV Tech. The loan will incur an interest rate of 6% per annum, payable quarterly in arrears, and is repayable in full on 1 January 2020, or earlier at the Company's election. Under the terms of the Loan, EUR150,000 can be drawn down immediately, with the remainder being available to be draw down in full, or in part, after 45 days. It is intended that the proceeds of the loan will be used for general corporate purposes. As BV Tech is a substantial shareholder of the Company as defined in the AIM Rules for Companies, the loan is classified as a related party transaction pursuant to AIM Rule 13. The Board expects that the loan will, shortly following publication of the Company's annual report and accounts for the year ended 31 December 2017 and the interims for the six months ended 30 June 2018, be replaced by a convertible loan from BV Tech of the same quantum and on the same material terms.
13. Availability of the interims
The Interim Report will shortly be available on the Company's website at www.investors.defenx.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IR QFLFBVBFEFBK
(END) Dow Jones Newswires
October 01, 2018 13:29 ET (17:29 GMT)
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