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25 Aug 2017 07:00
25 August 2017
INTERCEDE GROUP plc
("Intercede", or the "Group")
Issue of Convertible Loan Notes
Further to the Fundraising announcement of 28 December 2016, Intercede, the leading specialist in digital identity, credential management and secure mobility, is pleased to announce that it has raised £0.5 million through the issue of Convertible Loan Notes ("CLN"). These CLNs are convertible at 68.8125p per Ordinary Share and increase the total raised under the CLN instrument to £5.0 million.
Richard Parris, Chairman and CEO of Intercede, said;
"The increase in our cash reserves is beneficial as, following on from our December Fundraising, we continue to enhance our sales & marketing team and capabilities to meet the exciting new opportunities we are seeing. We are pleased to welcome a major new institutional investor and believe it is a significant vote of confidence in Intercede that they have chosen to participate in the Company's development."
Contact
Intercede Group plc | Tel: +44 (0) 1455 558 111 |
Richard Parris | Chairman & Chief Executive |
Andrew Walker | Finance Director |
finnCap | Tel: +44 (0) 20 7220 0500 |
Stuart Andrews | Corporate Finance |
Simon Hicks | Corporate Finance |
Capital Access Group | Tel: +44 (0) 20 3763 3400 |
Scott Fulton | Media |
Ed Welsby | Investors |
About Intercede
Intercede is a software and service company specializing in identity, credential management and secure mobility. Its solutions create a foundation of trust between connected people, devices and apps and combine expertise with innovation to provide world-class cybersecurity. Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world's largest corporations, telecommunications providers and information technology firms, for over 20 years. Intercede's product portfolio includes MyID, an identity and credential management system that assigns trusted digital identities to employees citizens and machines. In 2015, Intercede launched MyTAM, enabling trusted applications to be loaded into a mobile device's Trusted Execution Environment (TEE), providing hardware-level security for Android apps. In 2016, Intercede launched RapID, a secure, easy to implement authentication service for mobile apps and cloud services to completely eliminate the need for passwords.
For more information visit: www.intercede.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
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