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
  -0.25p -6.67% 3.50p 3.00p 4.00p 3.75p 3.50p 3.75p 16,959 09:39:51
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mobile Telecommunications 1.3 -3.4 -13.8 - 1

Defenx plc Loan draw down & conversion and corporate update

18/03/2019 7:00am

UK Regulatory (RNS & others)

Defenx (LSE:DFX)
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6 Months : From Feb 2019 to Aug 2019

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RNS Number : 0944T

Defenx plc

18 March 2019

18 March 2019

Defenx PLC

("Defenx", the "Company" or the "Group")

Final draw down under the BV Tech Loan, associated conversion notice and corporate update

Defenx Plc (AIM: DFX), the cyber-security software group, announces that it has now received EUR300,000 following the final draw down of the unsecured loan of EUR950,000 (the "Loan") provided by BV Tech S.p.A. ("BV Tech"), the Company's majority shareholder, as announced on 2 October 2018 (the "Announcement").

The Loan has now been fully drawn. Subsequent to this draw down, the Company confirms that it has sufficient funds through to the end of April 2019.

The Company confirms that it is in advanced discussions with BV Tech with regards to the provision of specific distribution rights to BV Tech for Defenx's products, in return for which, it is currently envisaged BV Tech will pay Defenx both a fixed fee (payable in instalments) and monthly fees. In addition, the Company is also in discussions with BV Tech regarding the provision of certain software services by BV Tech to the Group in respect of its range of new and existing products. However, there can be no guarantee that agreement will be reached between the parties, in which case the Company will need to consider other forms of funding. Further announcements will be made as appropriate.

As detailed in the Announcement, the Loan is convertible, at the sole discretion of BV Tech, into new ordinary shares of 1.8 pence each in the Company ("Ordinary Shares") at a price of 8 pence per share.

The Company has received a conversion notice in respect of the further draw down and accordingly, 3,267,842 new Ordinary Shares will be issued to BV Tech pursuant to the conversion notice.

On admission of the new Ordinary Shares, BV Tech will be interested in 25,964,850 Ordinary Shares, representing approximately 67.1 per cent. of the Company's then enlarged share capital.


Application will be made to the London Stock Exchange for 3,267,842 new Ordinary Shares to be admitted to trading on AIM pursuant to the conversion. It is expected that admission will occur at 8.00 a.m. on 22 March 2019.

Following Admission, the Company's total issued share capital will comprise 38,708,894 Ordinary Shares with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure Guidance and Transparency Rules. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue, including the right to receive all dividends and other distributions declared.


Defenx PLC 
 Anthony Reeves - Executive Chairman                      020 3198 9414 
IFC Advisory (Financial PR and IR) 
 Tim Metcalfe / Graham Herring / Heather Armstrong        020 3934 6630 
Strand Hanson Limited (Nominated and Financial Adviser) 
 Richard Tulloch / Stuart Faulkner / James Bellman        020 7409 3494 
WH Ireland (Broker) 
 Adrian Hadden                                            020 7220 1666 

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.

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 or visit



(END) Dow Jones Newswires

March 18, 2019 03:00 ET (07:00 GMT)

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