NCC Group

NCC · Main Market · Technology · mcap £250m · 174.4p 2 open situations →

EV: £311m
EV / EBIT: –
Net debt: £31.3m
FCF yield: 10.6%
Revenue: £234m
Cash returned: 17.2%
Share price 1y: +14%
Insiders 12m: bought £215k
Next report: 10 Dec ●

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.

Timeline · every situation

dots = announcements

202420252026 Results ahead of expectations Richard Griffiths selling down Tender offer and buyback programme Return of capital and tender offer Cyber strategic options review Possible offer Escode sale review 3 directors buying 3 directors buying Results ahead of expectations 2 directors buying

Open · 2

Upgrade / downgrade cycle

Results ahead of expectations

ahead of expectations

NCC Group said it is trading ahead of expectations on 27 Oct 2026.

27 Oct 2026 ahead of expectations

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Overhang

Richard Griffiths selling down

17.25% → 8.23% in 1 notice

Led to Odyssean Investment Trust PLC on the register – stake

Next: 8.23% still held

9 Sep 2026 8.23%
10 Mar 2026 17.25%

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Closed · 9

Capital returnTender offer and buyback programme paid out · 21 Jan 2026 – 2 Sep 2026 +6% Capital returnReturn of capital and tender offer paid out · 7 Jul 2026 – 2 Sep 2026 +11% Sale process / strategic reviewCyber strategic options review Review concluded; company stays listed · 21 Oct 2025 – 11 Jun 2026 Takeover targetPossible offer ended without an offer · 30 Apr 2026 – 11 Jun 2026 +21% Disposal of a part (break-up)Escode sale review Completed 29 May 2026 · 21 Oct 2025 – 29 May 2026 Insider conviction3 directors buying £215k in 3 buys · 27 Jan 2026 – 27 Apr 2026 +3% Insider conviction3 directors buying £100k in 3 buys · 12 Dec 2024 – 12 Mar 2025 +24% Upgrade / downgrade cycleResults ahead of expectations ahead of expectations · third in 12 months · 20 Jun 2024 – 11 Dec 2024 +0% Insider conviction2 directors buying £65k in 2 buys · 10 Oct 2023 – 9 Jan 2024 +14%

Company filings. Not investment advice.