Brandshield Systems PLC - cybersecurity firm, formerly trading as Two Shields Investments PLC - Shares admitted to London's AIM market on Tuesday. Raises GBP3.2 million from placing of, and subscription for, 16.0 million new shares at 20 pence each. Number of shares in issue total 114.1 million, giving it a market value of GBP22.8 million.
The funds will be used by the firm to "capitalise on the increasing number of new business opportunities it sees".
Chief Executive Yoav Keren adds: "This is an exciting day for BrandShield. During 2020, there has been an acceleration in interest in BrandShield with the growth in online criminal activity. Our annual recurring revenue from new business signed in the first six months of 2020 was almost equivalent to that in the whole of 2019.
"The demand for our market-leading services, which can remove the online threats that cause companies significant financial and reputational damage, is only going to expand. We intend to use our listing to build our business and become the premier provider in the market helping companies deal with online threats."
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.