ECSC.L Share News (ECSC)

(ShareCast News) - Cyber security service provider ECSC Group saw its ordinary shares admitted to trading on the AIM Market of the London Stock Exchange on Wednesday.The company is a provider of cyber security services that offers a range of solutions to a wide variety of clients across a diverse range of sectors, with a blue-chip client base including Barclays and GCHQ.It has more than 15 years of experience in the design, implementation and management of cyber security solutions.ECSC said it has significant intellectual property, including bespoke products delivering remotely managed cyber security services and custom-made internal support and delivery systems.The placing price per ordinary share was 167p, raising gross proceeds of £5.9m - £5m of which was receivable by the company, with the remainder receivable by the selling shareholders.The number of ordinary shares in issue immediately following admission totalled 8,994,131, and the market capitalisation of the company at the placing price was £15.0m.Proceeds from the placing will assist the funding of ECSC's growth strategy through investment in the company's staff and by the opening of an Australian Security Operations Centre, which will strengthen its ability to provide a 24/7/365 managed service and incident response.ECSC said it has initiated a carefully prepared plan to scale the business to meet market demand and has undertaken significant recruitment activity, which is already well progressed for implementation immediately following admission.The directors said they also believe that admission will, amongst other things, increase the company's profile and enable it to continue its strong track record of retaining and incentivising key employees."I am delighted that ECSC has joined AIM," said chief executive Ian Mann."The listing will expedite the execution of our detailed growth strategy and take the company to the next phase as we look to build on our existing blue-chip client base and our proven organic growth to date."Mann said the listing will also further enhance its credibility with potential clients and employees and will provide access to the UK equity markets to support future growth."We are excited by the opportunities that now present themselves to us as a listed entity."With the funding from our IPO and a strong board we feel we have never been better placed to target the significant market opportunity."We look forward to updating our new shareholders and other investors with our progress as a public company in due course."