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Grafenia ( (GB:SFT) ) has issued an announcement.
Software Circle plc has announced a suspected authorized push payment fraud incident involving one of its operating units, resulting in a loss of £426,770. The company has taken immediate action by notifying the bank and law enforcement, and a specialist team is investigating the matter. Despite the incident, the company’s financial position remains strong with a cash balance of approximately £7.8 million, and all business activities continue as normal. The Board is conducting a full internal review and has implemented measures to enhance payment protocols and fraud detection. The company remains committed to high standards of governance and operational resilience.
More about Grafenia
Software Circle plc is a UK-based company specializing in acquiring vertical market software businesses. The company focuses on providing a seamless exit strategy for founders while maintaining the entrepreneurial spirit and culture of the acquired businesses. It operates in an independent and decentralized manner, offering a permanent home for the teams and management talent of the businesses it acquires.
Average Trading Volume: 235,699
Technical Sentiment Signal: Buy
Current Market Cap: £113.1M
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