Cyber security firm launches on AIM
CYBER security firm ECSC has launched on the AIM division of the London Stock Exchange today.
The £15m Bradford firm has officially been admitted to the LSE with ordinary shares launching at 167p per share.
It admitted 8,994,131 shares on its debut, and the gross proceeds of the placing are to be £5.9m.
With the extra investment, the company is looking at increasing staff numbers and launching an Australian operations base to enable it to service clients 24 hours a day.
Leading the board is Ian Mann, founder and chief executive of ECSC who has a degree in electrical engineering and an MBA, along with Nigel Payne, non-executive chairman at Gateley plc and former chief executive of Sportingbet plc.
COO Lucy Sharp has been with ECSC since it was founded in the early 2000s. CFO Keith Kelly joined in 2012 having been finance director at Pet Plas Packaging, part of the Alcan Group.
Non-executive directors also include Stephen Vaughn, previously group chief executive officer of publicly listed companies Phoenix IT plc, Communisis plc and Synstar plc, and David Mathewson chairman of Sportech Plc who was also a CFO there and oversaw its move to AIM. He was a also a non-executive director of Playtech Group plc
Ian Mann, chief executive of ECSC, commented: “I am delighted that ECSC has joined AIM. The listing will expedite the execution of our detailed growth strategy and take the Company to the next phase as we look to build on our existing blue-chip client base and our proven organic growth to date.
“The listing will also enhance ECSC’s profile and further enhance our credibility with potential clients and employees and will provide access to the UK equity markets to support future growth.
“We are excited by the opportunities that now present themselves to us as a listed entity. With the funding from our IPO and a strong board we feel we have never been better placed to target the significant market opportunity.
“We look forward to updating our new shareholders and other investors with our progress as a public company in due course.”
