Cognosec AB approved for listing on Nasdaq First North in Stockholm and publishes company description
Cognosec AB (publ) (“Cognosec” or “The Company”), a leading Cyber Security Group and supplier of diversified solutions within the Cyber Security Sector with operations in Europe, Africa and the Middle East, has been approved for listing on Nasdaq First North. The trading is expected to commence on 22 September 2016 under the ticker symbol ” COGS ” with ISIN code SE0007604061. The Company has compiled a company description that has been approved by Nasdaq First North which as of today is available on Cognosecs website, www.cognosec.se.
Jacobus Paulsen, Chairman of the Board in Cognosec says:
”Cognosec has shown strong organic growth and has considerable potential for further acquisitions. Cognosec is an accredited, profitable and debt free company that offers multiple Cyber solutions around the globe. We will continue to establish operational centres in key geographies by acquiring cyber companies to expand the products and services of the Cognosec portfolio. We now have a scalable platform in place which will strengthen our market position and the listing will be a key milestone in our development.”
Background and rationale for the listing
Cognosec experiences good sales development and the Company are in negotiations regarding several new contracts within the areas of Managed Cyber Security Services, Penetration Testing and Intrusion Prevention Services. In addition, the Company has identified several acquisition opportunities that could strengthen the offering further. Therefore, the Board believes that Cognosec is now ready to list the Company's shares on Nasdaq First North. For the purpose of preparing the Company and to apply for the listing, Cognosec has prepared a company description that has been approved by Nasdaq First North, which as of today is available on Cognosec’s website, www.cognosec.se.
A listing of the Company's shares on Nasdaq First North increases the visibility, which is expected to increase the interest in the Company and its products and services. A listing will also increase the company's transparency, which builds credibility and brand among key audiences such as existing and potential customers and key employees. A listing also provides improved access to the capital markets and the ability to use the company's shares as payment in acquisitions. Lastly, a listing on Nasdaq First North creates conditions for liquid trading of the Company's shares.
Danske Bank has acted as financial advisor to the Company in connection with the compilation of the Company Description. The law firm Hammarskiöld & Co has acted as legal advisor to the Company in connection with the listing in respect of Swedish law. Fogel & Partners is acting as strategic communications advisor to the Company.
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
FOR MORE INFORMATION, PLEASE CONTACT:
IR-contact, Cognosec AB
The information in this press release is such that Cognosec AB must disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on Thursday, 15 September, 2016, at 16.00 CET.
Cognosec AB (publ) is engaged in Cyber Security solutions and conducts its operations through the Swedish parent company and through subsidiaries in South Africa, UK, Kenya, and the United Arab Emirates. The Group delivers services and technology licences to enhance clients’ protection against unwanted intrusion and to prevent various forma of information theft. The parent company is domiciled in Stockholm, Sweden. Cognosec employs 110 people and had revenues of EUR 16.8 million in 2015. Visit www.cognosec.se for more information.