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Investegate announcements from Conduity Capital PLC, Result of AGM

The £33.5m deal would allow Cork-based cybersecurity outlet Smarttech247 to go public but bypass the IPO process.

Smarttech247 is an established company in automated managed detection and response cybersecurity Cash shell Conduity Capital PLC has found a company it wants to take over: Smarttech247, an artificial intelligence (AI) specialist working in the cybersecurity field. Conduity has conditionally agreed to acquire Smarttech247 for £33.5mln, to be satisfied through the issue of Conduity shares. With a market capitalisation of just £1.6mln, this would count as a reverse takeover (RTO) under AIM’s rules. Trading in the shares of Conduity is currently suspended. As a cash shell, Conduity has unti...

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