Defenx : Proposed cancellation of admission to AIM

RNS Number : 0643S Defenx plc

04 November 2019

4 November 2019

Defenx PLC

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

Proposed cancellation of admission to trading on AIM

Delisting and Cancellation of admission to trading on AIM

Defenx PLC (AIM: DFX), the cyber-security software group, announces that it intends to seek shareholder approval to cancel the admission of its ordinary shares of 1.8 pence each in the capital of the Company ("Ordinary Shares") to trading on the AIM Market of the London Stock Exchange (the "Cancellation").

The Company intends to publish a circular, during November 2019, detailing the Cancellation and convening a general meeting of its shareholders to approve the Cancellation to take place in December 2019 / January 2020.

The Cancellation will be conditional upon the consent of not less than 75% of votes cast by Defenx's shareholders at the general meeting. The board of the Company (the "Board") notes that BV Tech S.p.A. ("BV Tech"), the Company's majority shareholder, has a current interest in 67.1% of the Company's issued share capital and BV Tech has indicated that it will enter into an irrevocable undertaking to vote in favour of the Cancellation.

Subject to shareholder approval, it is expected that the Cancellation will take effect during December 2019 or January 2020.

Board and Nominated Adviser Update

In order to implement the Cancellation, Strand Hanson Limited has agreed to continue as the Company's Nominated Adviser until the Cancellation, provided this takes place prior to 13 January 2020.

In addition, Tony Reeves and Nic Hellyer have both expressed their willingness to remain in their current roles as directors of the Company until the Cancellation. The Board has also agreed that no further changes will be made to the Board until after the general meeting to approve the Cancellation.

The Company will keep shareholders updated with regard to these matters and further announcements will be made as and when appropriate.

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 rns@lseg.comor visit www.rns.com.

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