Directorate Change

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

24 April 2023

NARF INDUSTRIES PLC

APPOINTMENT OF EXECUTIVE CHAIRMAN

Narf Industries plc ("Narf", the "Company", or the "Group"), (LSE: 'NARF')(OTCQB: NFIN.F) the cybersecurity group specialising in high-end threat intelligence and critical infrastructure security is pleased to announce the appointment of John Herring as Executive Chairman of the Group with immediate effect.

Executive Role

John has served as Independent Non-Executive Director of Narf Industries plc since its founding and now assumes the full-time role of Group Executive Chairman. 

John brings multi-decade executive and board experience in building high growth tech companies.  He offers strategic and practical operational experience specific to NARF's mission informed by a career that spans military service and work in the national security sector, including multi-year involvement as CEO of an In-Q-Tel (the investment arm of the US CIA) portfolio company, iMove, Inc.  John's corporate finance experience includes venture, private equity and public market financings as well as buy and sell-side M&A transactions.  John is Co-Founder of Corstone Capital, a private equity firm founded in 1991, where he's served as both CEO and Managing Director since its inception.

John Herring's appointment as Executive Chairman of Narf sees Robert Mitchell stepping down as Chairman.  The Board would like to thank Bob for his time with the Company helping with the admission to trading on the LSE and steering the Company through to the acquisition of Narf.

Steve Bassi, NARF Founder and CEO said, "We are experiencing record growth in our core national security R&D and United States government business.  We are pleased to have someone with John's experience work actively with me and the team during this exciting time advancing Narf's corporate development."

John Herring said, "My role is to accelerate the team's vision by bringing a deep network of relationships to fast-track the Company's corporate development.  This includes sourcing Board and team members that bring rapid growth public company governance experience and domain informed strategies to our commercialization initiatives.  I look forward to working closely with Steve and his team as we build on our growth to date."

ENDS

For further information on the Group please visit www.narfgroup.com or contact:

About NARF Industries plc

Narf Industries (LSE: NARF)(OTCQB: NFIN.F) is a US based cyber security group specialising in high-end threat intelligence with a focus on critical infrastructure. The Group leads commissioned cyber security R&D and is commercialising a portfolio of products including TIGR that can be used by utilities and cyber first responders to restore power to electric grids and protecting other key infrastructure that have suffered a cyber-attack. The Group aims to further strengthen its portfolio organically and via acquisition; its team of highly qualified cyber security experts is well placed to identify opportunities.

Important notice

The content of this announcement has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (FSMA). This announcement has been issued by and is the sole responsibility of the Company. The information in this announcement is subject to change. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States. This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, the Republic of South Africa, Japan or any jurisdiction where to do so might constitute a violation of local securities laws or regulations (a Prohibited Jurisdiction). This announcement and the information contained herein are not for release, publication or distribution, directly or indirectly, to persons in a Prohibited Jurisdiction unless permitted pursuant to an exemption under the relevant local law or regulation in any such jurisdiction.