Ireland, December 15 –

Smarttech247, a multi-award-winning provider of AI enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients, announces that its Ordinary Shares will today be admitted to trading on the AIM market of the London Stock Exchange (“Admission”). Dealings will commence at 8.00 a.m. under the ticker “S247”. The Company’s ISIN is GB00BMGNDN03.  

As announced on 1 December 2022, Smarttech247 has successfully raised gross proceeds of £3.67 million for the Company, through a Placing of 12,385,828 new Ordinary Shares at the Placing Price of 29.66 pence per share. Based on the Placing Price, the Company’s market capitalisation is approximately £36.80 million at Admission.

The Admission Document was published on 30 November 2022 and is available on the Company’s website www.smarttech247.com .  

The Company has a total of 124,078,982 shares in issue.

SPARK Advisory Partners Limited is acting as Nominated and Financial Adviser and Shard Capital Partners LLP is Broker to the Company.

Key Highlights

· Smarttech247 is a multi-award-winning, AI-based cybersecurity organisation. It is led by a highly experienced Board and management team, with its head office located in Cork, Republic of Ireland and a client base predominantly in Europe and the USA.

· The Company is profitable and cash generative and has achieved significant revenue growth in FY21 (20% over projected revenue and 50% growth compared to FY20) and expects continued growth in FY22.

· Smarttech247 provides security solutions to a growing list of blue-chip clients (B2B) utilising an automated Managed Detection and Response Platform. The Group’s services target proactive prevention for clients and utilise the latest methodology in cloud, big data analytics and machine learning, as well as incident response teams, to protect enterprises as they migrate to cloud-based IT operations.

· Smarttech247 has a diverse portfolio of blue-chip customers that includes pharmaceutical, technology, industrial and services companies.

· The Company has demonstrated a return on investment for clients that have implemented its platform. Forrester Consulting determined that the VisionX product provides in excess of a 300% ROI and €2 million net of present value (NPV), providing customers with a “payback” on investment within 6 months.

·   Smarttech247 is highly focused on innovation and operational excellence, and has exciting plans to continue to expand its Research and Development department in order to further enhance its security technologies. Two new proprietary technologies ThreatHub and VisionX were launched in 2022, in addition to NoPhish in 2021.

Raluca Saceanu, Chief Executive Officer of Smarttech247, commented :

“We are delighted to announce Smarttech247’s successful admission to London Stock Exchange’s AIM. The AIM quotation represents an important milestone for the Company to support our continued development of proprietary technology, increase our international presence and deliver new, innovative cybersecurity solutions.  The Company intends to continue its growth both organically and, if appropriate, through complementary acquisitions in a highly fragmented global cybersecurity market.

“With the considerable experience of our Board and management team, we strongly believe that we are well placed to generate shareholder value.

“We look forward to updating the market on our future progress.”

Full Press Release – Smarttech247 Group admission to AIM I InvestEgate