darktrace major shareholders

ACCESS TO THE INFORMATION AND DOCUMENTS ON THIS PORTION OF THE WEBSITE IS RESTRICTED FOR REGULATORY REASONS. Vitruvian controls 31.84m shares in Darktrace, about 7% of its 153.25m publicly traded free float. It provides enterprise-wide cyber defense to over 7,400 organizat ions in over 110 countries, protecting the cloud, email, Internet of things (IoT), traditional networks, endpoints and . And Darktrace has many competitors, including CyberX, Vectra AI, CrowdStrike and Kaspersky. He founded UK firm Autonomy and has been dragged into a long-running blockbuster 4 billion legal battle after selling that company to US tech giant HP in 2011. See the full terms of reference > Nomination Committee In January, the high court ruled, in a civil fraud case brought by HP, that Lynch duped HP into buying his company. Cambridge-based Darktrace will raise 143.4m gross proceeds from the deal, with existing shareholders selling shares worth only 21.7m. It's the second major test of London's appetite for high-growth tech companies after Deliveroo's IPO flop. 4. Data delayed at least 20 minutes, as of Mar 03 2023 17:01 GMT. About Darktrace. Post-Brexit Britain is reforming its listings regime to lure firms like these, with a government-commissioned review calling for a relaxing of rules around dual class share structures and special purpose acquisition companies, or SPACs. In a filing with the LSE on Monday, the company said it was in profit for the first time, with $9 million in the black on the back of nearly $200 million in revenues for the 2020 fiscal year. But there are clouds hanging over Darktrace, in the shape of analysts criticism of its business model and concerns about its workplace culture, not to mention an escalating legal battle over a multibillion pound fraud. The move will raise further fears among investors of a significant sell-off among other top shareholders in Darktrace, which has seen about 2bn wiped off its market value in a little over a week. You should not place undue reliance on forward-looking statements, which speak only as of the date of the relevant document. Darktrace did not return a request for comment. LONDON, July 22 (Reuters Breakingviews) - Shareholders in UK cybersecurity firm Darktrace (DARK.L) are waking up to founder Mike Lynchs legal problems. It has made little secret of its desire to go public, with London and New York expected to compete to stage the listing. Senior managers and directors at Darktrace hold about 5% of the company's shares with Poppy Gustafsson, co-founder and chief executive, holding 2.77m shares, about 0.4%. Este botn muestra el tipo de bsqueda seleccionado. Insider Buying: DARK insiders have bought more shares than they have sold in the past 3 months. Of course, September was a tough month for the markets, but this could provide a buying opportunity. The stock was last up 41% at a price of 352p. The employee put this down to a highly aggressive sales culture as the company geared up for its stock market float and looked to burnish its credentials as a market leader. Although Markit has made every effort to ensure this data is correct, nevertheless no guarantee is given to the accuracy or completeness. Around 25m more could be raised through an overallotment. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Darktrace plc is a United Kingdom-based autonomous cyber security artificial intelligence (AI) company. The company's listing has been dogged by concerns over its close ties to controversial U.K. tech entrepreneur Mike Lynch, who is battling extradition to the U.S. Lynch is accused of fraudulently inflating the value of Autonomy, the software company he founded, to Hewlett Packard for almost $11 billion in 2011. Darktrace shares started trading in conditional dealings under the ticker "DARK" Friday morning. Read full article. One of the largest shareholders in Darktrace is to sell a third of its shares in the British cybersecurity firm, in a move brokered at the end of a lock-up that prevents insiders selling their stakes in the recently floated company. The company has said a further 9.9 million shares will be sold if demand proves higher than expected. It raised a total of $230.5 million from investors prior to its IPO, according to Crunchbase. Opinions expressed are those of the author. Although Darktrace is facing significant challenges on its road to emulate CrowdStrikes exponential growth, theres still plenty of potential for the company to recapture its Q2 2021 form - however, the cybersecurity firm will face a battle to prove the worth of its suite of AI products. . You must therefore seek independent legal, investment or other appropriate advice from a suitably qualified and/or authorised and regulated advisor prior to making any legal, investment or other decision. Darktraces founder, the British billionaire entrepreneur Mike Lynch. As Forbes previously reported, the fraud allegations and the influence of Lynch and Hussain had caused concern amongst internal staff at Darktrace, whose leadership had previously worked at Autonomy and Invoke, including Gustafsson. YOU ARE REQUESTED TO REVIEW THE FOLLOWING INFORMATION AND MAKE THE FOLLOWING CONFIRMATION EACH TIME YOU SEEK TO ACCESS THIS RESTRICTED INFORMATION. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Benzinga does not provide investment advice. Darktrace had enjoyed an enthralling start to public life as the stock climbed an impressive 198% between its launch and the 23rd of September - but shares began to tumble as the investor lock-up period ended and the company drew criticism over the quality of the product it was offering. Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3%. We think its between 20% and 30%, which is much higher than competitors, said Early. 18-Jan-2023 . The $11.7bn sale of the Cambridge-based software business to HP in 2011 is still the subject of substantial ongoing litigation. Legal & General Investment Management Ltd. Persons into whose possession any of the documents or other information contained herein come should inform themselves about and observe any such restrictions. Darktrace is a world leading provider of AI for the enterprise, with the first at scale deployment of AI in cyber security, and a pioneer of autonomous response technology. Our Standards: The Thomson Reuters Trust Principles. Judging by the exuberant stock market reaction since bid interest emerged, a deal could be done at close to 3.6bn, a figure Lynch claims would be higher were it not for the vindictive pursuit of him by the US authorities. Darktrace does at least have a good-sized chunk of the transatlantic political and espionage community in its corner. Please read our Financial Services Guide before deciding whether to obtain financial services from us. We apologise for any inconvenience this may cause. "The IPO is just part of the journey and maturation process for the company," Kanji said. Darktrace is a world leading provider of AI for the enterprise, with the first at scale deployment of AI in cyber security, and a pioneer of autonomous response technology. The remaining management team, including chief executive Poppy Gustafsson, could share payouts of up to 200m, according to stock market filings issued last month. Headquartered in Cambridge, UK, the company has 1,600 employees and over 30 offices worldwide. It claims to have 4,700 customers, which over recent years have included HSBC and BT. That's disappointing, but it's worth keeping in mind that the market-wide selling wouldn't have helped.. Darktrace hit back in against the report, with aspokesperson respondingby email that the companys AI-based services protects organisations against cyber-attacks across the full breadth of digital environments. The email also added that the companys customer satisfaction across its 5,900 customers is industry-leading., Price Plunges Following Investor Lock-Ups. A potential court case could also damage Darktraces standing read more , particularly as Lynch is still a member of its science and technology council. Darktrace's CEO Poppy Gustafsson and Chief Strategy Officer Nicole Eagan also both used to work at Autonomy. Who are the major shareholders and have insiders been buying or selling? Lets take a deeper look at one of the rise and fall of the promising cybersecurity unicorn, Darktrace: Shares in Darktrace had taken a significant hit after a broker claimed that the cybersecurity firms AI framework was only worth half of its closing value of 6.6 billion at the time. It provides enterprise-wide cyber defense to over 7,400 organizat. Peel Hunt analysts including Oyvind Bjerke claimed thatsome expertsthat they had consulted determined Darktraces cybersecurity solutions to be a gimmick, whilst acknowledging that other professionals believed that the service offered protection from serious online attacks. But the longer-term backdrop is ongoing buyout interest that could soon take it private again, from US private equity group Thoma Bravo. The Company is focused on providing AI for enterprises. Venture capitalists swap Paris Hilton for Al Gore, US blacklisting is no match for TikTok virality, Theres hope beyond moaning for European telcos, Adani contrarian is a win for Hindenburg, too, Exclusive news, data and analytics for financial market professionals. In terms of relative price strength the Darktrace share price has underperformed the FTSE All Share Index by-47.58% over the past year. The news of Darktraces hit from Peel Hunt came at a difficult time as the stocks 180-day lock on investors selling the stock expired in early November. Darktrace was founded in 2013 by cyber experts and mathematicians in Cambridge. Hear from Poppy Gustafsson (CEO), Cathy Graham (CFO), and Max Heinemeyer (CPO) as they deliver FY 2022 Results. Our intention to list on the London Stock Exchange marks a major milestone in Darktrace's history of rapid growth, and a historic day for the UK's thriving technology sector, said Poppy Gustafsson, Darktrace chief executive. It was his idea, he was the creator, brought the first people in, named it, named the immune system [the AI cyber-defence system that has become Darktraces flagship product].. THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, DUBAI, HONG KONG, JAPAN, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION. There will be no public offering of securities in the United States. . Download and read our latest results, presentations and webcasts. (The extradition proceedings continue. Issuer Details ISIN GB00BNYK8G86 Issuer Name Darktrace plc UKor Non-UKIssuer UK 2. Major holders Insider roster Insider. Significantly, the end of the lock-up period enabled a wide range of investors to sell their shares in the company - including Mike Lynch, Darktraces first and largest shareholder prior to the companys floatation, who initially sold the software group Autonomy to Hewlett-Packard for 8.4 billion in 2011. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. British cybersecurity company Darktrace Plc announced plans for an initial public offering in London, marking the first major company to plan a listing on the exchange after Deliveroo Holdings Plc flopped in its market debut. On the other hand it was very lucrative.. CEO of Darktrace Poppy Gustafsson is leading the, company to an IPO, which is reportedly valued at over $5 billion. Shares in the Cambridge-based firm closed down a further 7% to 632.5p as investors concerned about a widespread sell-off of the companys stock from Wednesday pushed its share price to a two-month low. London Stock Exchange - 11:35:12 2023-03-03 am EST, Chief Executive Officer & Executive Director, Chief Financial Officer & Executive Director, Senior Independent Non-Executive Director. . Darktrace and shareholders plan to sell at least 20% of the company's equity, and the stock will trade on the London Stock Exchange's premium market and be eligible for FTSE's benchmark . Darktrace shareholders are down 61% for the year, even worse than the market loss of 14%. When cybersecurity unicorn Darktrace debuted on the London Stock Exchange on April 30th 2021, it took one week forWired to claimthat the listing salvaged Londons tech IPO dream. Created by mathematicians, our platform uses machine learning and AI algorithms to neutralise cyber threats across diverse digital estates, including the cloud and networks, IoT and industrial control systems. The Company is focused on providing AI for enterprises. Reason for Notification An acquisition or disposal of voting rights 3. An incredible release, Darktrace PREVENT/OT - augumenting attacks to test the security, ensuring you have maximum protection even against zero-day threats. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Senior managers and directors at Darktrace hold about 5% of the companys shares with Poppy Gustafsson, co-founder and chief executive, holding 2.77m shares, about 0.4%. Darktrace plc (DARK.L) LSE - LSE Delayed price. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. During Lynchs civil fraud trial, lawyers for HP described Eagan as part of a trusted cabal around Lynch, as he came up with the very accounting strategies that prompted the US companys legal claim. The share price fall amounted to thelargest across the FTSE 100. The 180-day lock-up agreement put in place at the time of Darktraces flotation in April was waived, allowing the sales to proceed. Darktrace, one of the U.K.'s largest cybersecurity companies, was founded in 2013 by a group of former intelligence experts and mathematicians. (Hussains legal representation had previously declined to comment on the allegations, whilst his associate had denied any inappropriate behavior. Of this amount, $150.6 million was added to the regular revenue for the quarter. Date on which the threshold was crossed or reached . City of registered office (if applicable) Country of registered office (if applicable) 5. The exact price of the share sale was set to be determined through a rapid sale process called an accelerated bookbuild. Almost simultaneously, the then home secretary Priti Patel determined that Lynch could be extradited. Your confirmation must be true and accurate. Darktrace plc (LSE:DARK) commences an Equity Buyback for 7,181,838 shares, representing 10% of its issued share capital, under the authorization granted on November 3, 2022. Its products include Darktrace PREVENT, Darktrace DETECT, Darktrace RESPOND and Darktrace HEAL. Astonishingly, the analysts opted to deliver a sell rating for the stock alongside a price target of 4.73 - a value that implies a 50% downside from the stocks most recent close at the time. Persons who are not Relevant Persons (in the United Kingdom) or Qualified Investors (in Member States) should not act or rely on this document or any of its contents.. Certain statements contained in documents available on this part of the website constitute forward-looking statements. Darktrace has raised 143.4 million and selling shareholders will raise 21.7 million. The information and documents on this portion of the website (a) are intended only for, and may be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to (i) "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "US Securities Act") ("QIBs") or (ii) persons resident or physically present outside the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Dubai, Hong Kong, Japan, Singapore, Switzerland and resident and physically present in a jurisdiction in which such access, distribution or dissemination would not constitute a violation of the local securities laws or regulations of such jurisdiction, and (b) are not and do not constitute an offer to sell or the solicitation of an offer to buy or acquire, any ordinary shares or other securities of the Issuer in the United States, Australia, Canada, Dubai, Hong Kong, Japan, Singapore, Switzerland or any other jurisdiction in which such offer or solicitation would constitute a violation of the local securities laws or regulations of such jurisdiction or would be otherwise unlawful. It is also the subject of admiring glances from a deep-pocketed US private equity house pondering a takeover that could lead to payouts worth 200m for its management team. Darktrace was named one of TIME magazine's "Most Influential Companies" for 2021. Hussein Kanji, a partner at early Darktrace backer, Hoxton Ventures, told CNBC he believe the company was still in the "early days" of its journey. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by FT and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. New Research Finds Organizations Need to Adopt a Holistic Approach to Improve Cyber Readiness. Darktrace progress overshadowed by collapsed deal, Darktrace Announces Availability of NEWSROOM, Darktrace Announces Availability of PREVENT/OT, The last IC recommendation on Darktrace PLC shares was Hold at 336.00 on 08 Sep 2022, Darktrace plc is a United Kingdom-based autonomous cyber security artificial intelligence (AI) company. Significantly, the prospect of Lynchs895 million worth of sharesbeing cashed in led to widespread investor concerns and the tumbling DARK market capitalisation. He gets reported as being an early investor who gave them some office space, they said. TR-1: Notification of major holdings RNS Number : 6416I Darktrace PLC 19 April 2022 TR-1: Standard form for notification of major holdings 1. With deep expertise in mathematics and machine learning, as well as operational experience defending critical organisational assets, Darktrace seeks to empower enterprises to defend their systems against the most silent and sophisticated cyber threats. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Darktrace boss defends UK cybersecurity firm amid short-seller attacks, Advice for Darktrace: dont complain, just explain, Darktrace shares fall below IPO price as new client sign-ups slow, Darktrace shares slump after takeover talks collapse, Toxic: Darktraces future clouded by concerns over culture and fraud case, Snake oil: doubts loom over tech firm Darktraces high-octane sales strategy, Darktrace boss in bid to counter Citys dim view of track record, Darktrace shares plunge again as investor lock-up ends, Darktrace shares soar by 40% on London stock market debut, lock-up that prevents insiders selling their stakes, star performer which joined the FTSE 100 last week. have bought more shares than they have sold in the past 3 months. 7. All rights reserved. Shares in UK tech darling Darktrace soared on their London debut, jumping as much as 42 per cent higher than their initial listing price, in an IPO . It is a pioneer of self-learning AI and is at the forefront of autonomous response technology. Currency in GBp (0.01 GBP) Add to watchlist 262.90 -7.70 (-2.85%) As of 01:17PM GMT. Darktrace plc is a United Kingdom-based autonomous cyber security artificial intelligence (AI) company. Top Shareholders Top 25 shareholders own 88.58% of the company Show more Simply Wall St Simply Wall Street Pty Ltd You must be a registered user to save alerts. Among the risks attached to the initial public offering, Darktrace admitted, was the prospect of liabilities arising from the Autonomy sale. Darktrace's ties to one of its major shareholders, Autonomy founder Mike Lynch, were problematic, to say the least.

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