NCC Group
NCC · Main Market · Technology · mcap £225m · 151.6p
NCC Group sells cyber security services such as testing, consulting and managed services to businesses and governments. Until May 2026 it also ran Escode, a software escrow business that holds code in trust for customers.
Key announcements Monitoring checked today, 21:05
| Date | Type | Announcement | Day |
|---|---|---|---|
| 07 Sep 26 | Share Buyback Programme
NCC Group initiates £15m share buyback programme following Escode business sale. |
−0.6% | |
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Buyback budget £15 millionMaximum shares to repurchase 16,724,556Tender Offer completion date 2 September 2026Escode business sale completion 29 May 2026
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| 02 Sep 26 | Results | Results of Tender Offer and Total Voting Rights
Tender offer completed; 117.2m shares repurchased and cancelled for £170m; share count reduced to 167.5m. |
−1.1% |
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Tender Offer value £170 millionShares repurchased 117,241,379Tender price per share 145 penceShares cancelled 117,241,379Issued share capital post-cancellation 167,474,781 shares
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| 27 Aug 26 | Board change | Directorate Change
Independent non-executive director Mike Ettling steps down after nine years, effective 30 September 2026. |
+1.8% |
| 23 Jul 26 | Result of General Meeting
Shareholders approved cancellation of share premium account and authorised tender offer and new buyback programme. |
−0.4% | |
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Share Premium Account to cancel £225,026,690.24Votes for resolution 1 (cancel share premium) 176,814,462 (99.98%)Votes for resolution 2 (tender offer authority) 176,473,840 (99.76%)Votes for resolution 3 (buyback programme authority) 176,872,947 (99.98%)Issued share capital 284,500,644 ordinary sharesShareholder turnout 62.18% of ISC voted
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| 15 Jul 26 | NCC and Siemens strengthen critical infrastructure
NCC Group and Siemens sign Memorandum of Understanding to collaborate on UK critical infrastructure cyber security. |
+0.8% | |
| 07 Jul 26 | Capital Reduction and Tender Offer
NCC returns £185m to shareholders via £170m tender offer at 145p and £15m buyback following Escode sale. |
+4.9% | |
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Tender Offer size £170 millionTender Price per share 145 pencePremium to closing price 11%Additional Buyback Programme £15 millionTotal return to shareholders from Escode sale £225 millionNet proceeds from Escode sale £253 million
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| 23 Jun 26 | NCC Group on OpenAI Daybreak Cyber Partner Program
NCC Group selected to join OpenAI Daybreak Cyber Partner Program for frontier AI research. |
+0.2% | |
| 11 Jun 26 | Disclosure Table
NCC Group removed from Takeover Panel disclosure table following completion of offer period. |
−5.1% | |
| 11 Jun 26 | Results | Unaudited interim results
H1 2026 interim results show 27.7% Adjusted EBITDA growth and Escode disposal completed, making NCC a pure-play Cyber business. |
−5.1% |
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in line with the Board's expectations expectations Group Revenue (excl. Fox Crypto) £151.3m (£145.3m)Group Adjusted EBITDA (excl. Fox Crypto) £23.5m (£18.4m)Cyber Security Adjusted EBITDA £8.3m (£3.6m)Cyber Security gross margin 38.4% (35.2%)Adjusted basic EPS (excl. Fox Crypto) 4.5p (1.5p)Net cash position post-Escode disposal c.£230m ((£10.2m))
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| 11 Jun 26 | Conclusion of the Cyber Strategic Review
NCC Group concludes strategic review of Cyber business; remains listed and focused on execution. |
−5.1% | |
| 29 May 26 | Completion of the sale of Escode
NCC completed sale of Escode to TDR Capital for £275m enterprise value and will return £185m to shareholders. |
+0.6% | |
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Escode enterprise value £275.0mAggregate gross consideration £309.1mEstimated net proceeds ~£253mShareholder return £185mTransitional Services Agreement income (12 months) £4.9m
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| 21 May 26 | Dealing Disclosure under Rule 8 Takeover Code
Mike Maddison purchased 121 ordinary shares at £1.364 per share on 18 May 2026. |
+2.2% | |
| 21 May 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Guy Ellis purchased 121 ordinary shares at £1.364 per share on 18 May 2026. |
+2.2% | |
| 30 Apr 26 | Trading update | FY26 H1 Trading update
H1 revenue grew 5% to £151.3m, adjusted EBITDA up 27.7% to £23.5m, in line with expectations. |
+2.5% |
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in line expectations H1 Revenue (constant currency) c.£151.3m (c.£143.8m)Cyber revenue c.£118.4m (c.£111.9m)Escode revenue c.£32.9m (c.£32.3m)Group adjusted EBITDA c.£23.5m (c.£18.4m)Cyber adjusted EBITDA c.£8.3m (c.£4.0m)Net debt c.£10.2m
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| 23 Apr 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Mike Maddison purchased 136 ordinary shares at £1.2047 per share on 17 April 2026. |
−3.4% | |
| 20 Apr 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Guy Ellis purchased 51 ordinary shares at £1.1893 per share on 10 April 2026. |
−1.5% | |
| 20 Apr 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Mike Maddison purchased 4,797 ordinary shares on 10 and 13 April 2026. |
−1.5% | |
| 20 Mar 26 | Dealing Disclosure under Rule 8 Takeover Code
Guy Ellis, director/senior manager, purchased 132 ordinary shares at £1.252 per share on 17 March 2026. |
+0.8% | |
| 20 Mar 26 | Dealing Disclosure under Rule 8 Takeover Code
Mike Maddison purchased 132 ordinary shares at £1.252 per share on 17 March 2026. |
+0.8% | |
| 03 Mar 26 | Result of AGM
All resolutions passed at the 2026 AGM, including final dividend of 3.15p per share and new Articles of Association. |
−1.6% | |
| 03 Mar 26 | Trading update | AGM Trading Statement
Escode sale on track for April completion; Cyber business shows second consecutive quarter of revenue growth; FY26 revenue expected to grow marginally. |
−1.6% |
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Escode enterprise value £275.0mEscode gross consideration £309.1mFY26 revenue growth marginal growth expectedEscode and Cyber growth low single-digit growth
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| 20 Feb 26 | Notice of Capital Markets Event for Cyber Business
NCC Group to host Capital Markets Event on 13 March 2026 focused on Cyber business strategy and growth. |
+0.8% | |
| 19 Feb 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Guy Ellis purchased 62 ordinary shares at £1.3293 per share on 17 February 2026. |
−2.9% | |
| 19 Feb 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Mike Maddison purchased 124 ordinary shares at £1.3293 per share on 17 February 2026. |
−2.9% | |
| 09 Feb 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Guy Ellis purchased 9,450 shares and sold 4,468 shares on 5 February 2026. |
+2.1% | |
| 03 Feb 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Mike Maddison purchased 12,207 shares and sold 5,759 shares on 2 February 2026. |
−4.7% | |
| 03 Feb 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Mike Maddison purchased 87,281 shares and sold 41,168 shares on 29 January 2026. |
−4.7% | |
| 29 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Mike Maddison disclosed share interests and options holdings totalling 3.6 million shares and options. |
−0.4% | |
| 29 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Guy Ellis disclosed shareholdings and share options under Takeover Code Rule 8. |
−0.4% | |
| 28 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Jennifer Duvalier purchased 35,816 ordinary shares at £1.400974 per share on 26 January 2026. |
+2.3% | |
| 28 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Mike Ettling purchased 36,390 ordinary shares at £1.372717 per share on 23 January 2026. |
+2.3% | |
| 28 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Chris and Lisa Stone purchased 81,656 ordinary shares at £1.4015 per share on 26 January 2026. |
+2.3% | |
| 26 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Mike Maddison, an executive, purchased 118 ordinary shares at £1.386 per share on 19 January 2026. |
+1.2% | |
| 26 Jan 26 | Dealing Disclosure under Rule 8 Takeover Code
Director Guy Ellis purchased 59 ordinary shares at £1.386 per share on 19 January 2026. |
+1.2% | |
| 26 Jan 26 | Update on Share Buyback Programme
NCC Group amends share buyback programme terms to allow purchases exceeding 25% of daily trading volume. |
+1.2% | |
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Maximum aggregate consideration £70 millionMaximum number of shares 31m shares
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| 23 Jan 26 | Director Declaration
Independent Non-Executive Director Lynn Fordham appointed as Non-Executive Director of Czechoslovak Group. |
+2.7% | |
| 21 Jan 26 | Share Buyback Programme
NCC Group launches £70m share buyback programme, expected to commence within days, expiring 31 January 2027. |
+2.4% | |
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Maximum buyback consideration £70mMaximum number of shares 31m
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| 21 Jan 26 | Sale of Escode Business
NCC sells Escode business to TDR Capital for £275m enterprise value; launches share buyback programme. |
+2.4% | |
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Escode enterprise value £275.0mGross aggregate consideration £309.1mNet proceeds (pre-transaction costs) £262.4mFY25 Adjusted EBITDA multiple 9xEscode consecutive quarters of revenue growth 13
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| 11 Dec 25 | Results | Preliminary audited results for the year 30/09/25
FY25 revenue declined 2.6% to £293.9m, Adjusted EBITDA fell to £40.6m, but profit before tax swung to £20.6m profit from prior loss. |
−0.6% |
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Adjusted EBITDA in line with Board expectations expectations Revenue (excluding non-core disposals) £293.9m (£302.0m)Adjusted EBITDA (excluding non-core disposals) £40.6m (£42.1m)Profit before taxation £20.6m (£(17.8)m)Net cash £13.1m (£(45.3)m net debt)Gross margin 44.5% (43.9%)Final dividend 3.15p (1.50p)
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| 21 Oct 25 | Trading update | Strategy and Trading Update Year End 30/09/2025
Full-year revenue declined 2.5% to £294m; Adjusted EBITDA £43.5m in line with expectations; net cash £13m. |
+1.0% |
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in line expectations Group revenue (constant currency, excluding non-core disposals) c.£294m (c.£301m)Adjusted EBITDA c.£43.5m (expected in line with Board expectations)Net cash c.£13mEscode revenue c.£66.5m (c.2% growth)Cyber Security revenue c.£227m (c.4% decline)Gross margin c.44.5% (43.9% (2024))
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| 16 Jul 25 | Response to media speculation
NCC Group confirms Escode sale process continuing and reviewing strategic options for Cyber business. |
+0.4% | |
| 24 Jun 25 | Notification Of A Change To A Director’s Details
Independent Non-Executive Director Lynn Fordham appointed Chair of Pollen Street Group Limited. |
+0.3% | |
| 19 Jun 25 | Results | Unaudited interim results for 6-months to 31/3/25
H1 2025: Fox Crypto disposal generated £11.3m profit; net debt eliminated; Escode sale discussions ongoing; Cyber Security revenue down 6.6%. |
−11.2% |
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Adjusted EBITDA £21.5m (£25.5m)Profit before taxation £16.6m (£8.4m)Net cash/(debt) £0.3m (£(53.5)m)Revenue £156.8m (£166.8m)Cyber Security revenue £123.5m (£133.9m)Escode revenue £33.3m (£32.9m)
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| 15 May 25 | Notice of Interim Results
NCC Group to publish interim results for six months ended 31 March 2025 on 19 June 2025. |
+0.3% | |
| 28 Apr 25 | Statement regarding recent press speculation
NCC Group confirms it is exploring options for Escode business including potential sale, process in early stage. |
+3.0% | |
| 28 Apr 25 | New £120M multi-currency revolving credit facility
NCC Group secured a new £120m four-year revolving credit facility replacing its previous £162.5m facility. |
+3.0% | |
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New RCF facility £120mUncommitted accordion option £50mFacility expiry 28 April 2029Net cash position £0.3m (following €78.5m Fox Crypto B.V. disposal)Previous RCF £162.5m (expiring 22 December 2026)Margin range 1.35% to 2.35% on SONIA/SOFR
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| 28 Mar 25 | Completion of non-core Fox Crypto business
NCC Group completes sale of Fox Crypto B.V. to CR Group Nordic AB for €78.5m to reduce net debt. |
+2.6% | |
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Total consideration at completion €78.5m (c.£65m)Fox Crypto revenue (12m to 31 May 2024) c.£18mFox Crypto EBITDA (12m to 31 May 2024) c.£4m2024 EBITDA multiple 16.5xExpected Group net debt post-disposal (31 March 2025) NIL - £3.0m
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| 28 Jan 25 | Project Clover contract extension with TikTok
NCC Group signs three-year contract extension with TikTok for Project Clover European data security programme. |
+0.1% | |
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Project Clover contract duration three yearsTikTok users protected across EEA, Switzerland and UK 175 millionTikTok investment in European data security over ten years €12 billion
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| 08 Jan 25 | Purchase of shares via Employee Benefit Trust
Employee Benefit Trust purchased 917,868 shares at average price of 146.16p per share. |
−1.1% | |
| 07 Jan 25 | Director Declaration
Senior Independent Director Julie Chakraverty appointed as Non-Executive Director of easyJet plc from 27 January 2025. |
−1.2% | |
| 23 Dec 24 | Purchase of shares via EBT
Employee Benefit Trust purchased 1,180,252 shares at 144.4p per share for future employee share plans. |
−2.0% | |
| 18 Dec 24 | Purchase of shares via EBT
Employee Benefit Trust purchased 1.9m shares at 143.8p to satisfy future share plan vesting. |
+0.4% | |
| 10 Dec 24 | Results | Preliminary audited results -16 months to 30/9/24
NCC Group reports 16-month results with improved gross margins and Adjusted EBITDA, though sales cycles have lengthened. |
−15.3% |
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Revenue (16 months to 30 Sept 2024) £429.5m (£335.1m (12 months to 31 May 2023))Group gross margin (16 months to 30 Sept 2024) 41.6% (39.4%)Cyber Security gross margin (16 months to 30 Sept 2024) 34.5% (31.8%)Adjusted EBITDA (16 months to 30 Sept 2024) £51.6m (£39.2m)Net debt excluding lease liabilities (£45.3m) ((£49.6m))Final dividend 1.50p (3.15p)
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| 11 Oct 24 | Director dealing | Exercise of Share Awards and Director Dealing
CFO Guy Ellis exercised 14,450 RSP award shares and sold 10,248 shares at £1.66 per share. |
+1.2% |
| 12 Sep 24 | Trading update | Trading Update to 30 September 2024
Four-month revenue expected £104m, up 4% year-on-year, with adjusted operating profit of approximately £6m versus prior £1m loss. |
+10.6% |
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ahead expectations Revenue (four months) £104m (c.£100m (prior guidance))Revenue growth vs prior year c.4%Adjusted operating profit approximately £6m (c.£1m (loss) prior year)
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| 01 Aug 24 | Disposal of Non Core Fox Crypto
NCC Group agrees to sell Fox Crypto B.V. for €77m to CR Group Nordic AB, expected to clear net debt. |
−1.8% | |
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Disposal consideration €77m (c.£66m)Expected net proceeds €74m (c.£62m)Fox Crypto revenue (12m to 31 May 2024) c.£18mFox Crypto EBITDA (12m to 31 May 2024) c.£4mGroup net debt (31 May 2024) £38.5mEBITDA multiple 16.5x
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| 01 Aug 24 | Results | Unaudited results for the 12 months to 31 May 2024
Adjusted EBITDA grew 7.4% to £42.1m ahead of expectations; Cyber Security revenue declined 2.2% at constant currency but returned to H2 growth. |
−1.8% |
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Adjusted EBITDA ahead of market expectations; net debt better than market expectations expectations Revenue £324.4m (£335.1m)Cyber Security revenue £258.5m (£270.8m)Adjusted EBITDA £42.1m (£39.2m)Gross margin 41.4% (39.4%)Net debt (excluding lease liabilities) £38.5m (£49.6m)Dividend 3.15p (3.15p)
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| 20 Jun 24 | FY24 Trading Update and Notice of Final Results
FY24 adjusted operating profit expected ahead of consensus at £31m; leverage improved to 1.0x despite revenue decline. |
+8.5% | |
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ahead of consensus on adjusted operating profit and net debt expectations Group LFL Revenues c.£324m (declined c.1% constant currency, c.3% actual)Adjusted Operating Profit c.£31mNet debt (excluding leases) c.£39m (c.£50m FY2023)Leverage (excluding IFRS 16) c.1.0x (1.9x H1 2024)Cyber Security revenue growth H2 c.6.0% constant currency (declined 9.6% H1 2024)Full year dividend 3.15p
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| 02 May 24 | Capital Markets Event for CSMS
NCC Group to host capital markets event on Cyber Security Managed Services on 20 June 2024. |
−1.1% | |
| 01 May 24 | Director Declaration
Julie Chakraverty appointed as Independent Non-Executive Director of AJ Bell plc from 1 June 2024. |
−2.1% | |
| 24 Apr 24 | Appointment of Joint Broker
Investec Bank appointed as joint corporate broker alongside Peel Hunt LLP. |
−0.6% | |
| 09 Apr 24 | Capital Markets Event for Escode
NCC Group hosting Capital Markets Event on 25 April 2024 to present Escode software escrow division strategy and brand launch. |
−0.7% | |
| 21 Mar 24 | Director Declaration
Independent Non-Executive Director Lynn Fordham appointed to NewRiver REIT plc board as Chair Designate. |
−1.0% | |
| 29 Jan 24 | Change of Auditor
PwC appointed as auditor following competitive tender process, replacing KPMG. |
−2.4% | |
| 25 Jan 24 | Results | Unaudited interim results - period ended 30/11/23
H1 2024 revenue £159.2m down 9.9% but in line with expectations; Escode grew 6.2% constant currency. |
−4.3% |
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in line expectations Revenue £159.2m (£176.6m)Adjusted Operating profit £4.8m (£12.9m)Adjusted EBITDA £15.6m (£24.2m)Adjusted basic EPS 0.5p (2.5p)Gross margin 37.9% (40.5%)Net debt excluding lease liabilities £48.3m (£54.8m)
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| 21 Dec 23 | Strategic disposal of DetACT
NCC Group sells DetACT fraud detection business to DataExpert BV for €9.0m gross cash consideration. |
−0.9% | |
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Gross consideration €9.0mNet proceeds c.€8.3mDetACT FY23 revenue c.€5.5mDetACT FY23 adjusted operating profit c.€0.8mDetACT gross assets c.€18mDetACT employees transferring 41
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| 30 Nov 23 | Result of AGM
All AGM resolutions passed, including final dividend of 3.15p per share and director appointments. |
+1.0% | |
| 30 Nov 23 | Trading update | AGM Trading Statement
H1 trading in line with expectations; Managed Services revenue growing strongly; £5m cost efficiencies ahead of schedule. |
+1.0% |
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in line expectations Cost efficiencies delivery £5m
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Company filings. Not investment advice.