Crossrider plc CyberGhost senior management changes (0844X)
November 21 2017 - 3:00AM
UK Regulatory
TIDMCROS
RNS Number : 0844X
Crossrider plc
21 November 2017
21 November 2017
Crossrider plc
("Crossrider," or the "Company")
CyberGhost senior management changes and purchase of share
options
Crossrider (AIM: CROS), a leading B2C security software and
online distribution platform, today announces the following senior
management changes within its wholly owned subsidiary Company,
CyberGhost SA ("CyberGhost").
Shalev Katav has been appointed Managing Director of CyberGhost
with immediate effect as part of the progression of the company's
integration into Crossrider. Shalev joined Crossrider in November
2012 as Director of Business Development, and has been instrumental
in the successful integration of CyberGhost following its
acquisition by Crossrider in March 2017. Robert Knapp, founder and
currently Managing Director of CyberGhost, will assume the role of
Chairman and Corporate Development Manager of CyberGhost, enabling
him to focus on broader strategy for the business.
As part of the process, Crossrider will purchase 3,810,667 of
the Consideration Options (options over ordinary shares exercisable
at nominal value) granted to Robert Knapp as part of the
consideration to acquire CyberGhost in March 2017. The Company has
agreed to pay a total of EUR3,202,000 to purchase the 3,810,667
Consideration Options. Of this sum, eight equal quarterly
installments of EUR197,125 will be paid between February 2018 and
November 2019 with the remaining EUR1.625m to be paid to Robert
immediately. Robert will retain his interest in the Company with
589,333 Consideration Options on the same vesting schedule as set
out in the announcement of 14 March 2017.
Ido Erlichman, Chief Executive of Crossrider, commented:
"With CyberGhost now fully integrated and performing ahead of
expectations, we can capitalise on the sizeable market opportunity.
We believe the combination of Shalev as Managing Director and
Robert as Chairman provides an ideal platform from which to execute
against our strategy and drive the Crossrider business going
forward."
Enquiries
Crossrider plc via Vigo Communications
Ido Erlichman, Chief Executive
Officer
Moran Laufer, Chief Financial Officer
Shore Capital (Nominated Adviser
& Broker) +44 (0)20 3772
Toby Gibbs / Dru Danford 2496
Vigo Communications (Financial
Public Relations)
Jeremy Garcia / Fiona Henson / +44 (0)20 7830
Antonia Pollock 9700
About Crossrider
Crossrider (LSE: CROS) distributes and develops digital products
in the online security space. The Company utilises its proprietary
digital distribution technology to optimise its reach and create a
superb user experience. The Company offers products which provide
online security, privacy and optimal online experience.
Crossrider's vision is to provide and develop best-in-class digital
products for its customers and partners globally.
www.crossrider.com
This information is provided by RNS
The company news service from the London Stock Exchange
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