ARQQW Arqit Quantum Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2024

 

Commission File Number: 001-40777

 

ARQIT QUANTUM INC.

(Exact name of registrant as specified in its charter)

 

3 Orchard Place

London SW1H 0BF, United Kingdom

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x  Form 40-F ¨

 

 

  

EXPLANATORY NOTE

 

On 27 September 2024, the Board of Directors (the “Board”) of Arqit Quantum Inc. (“Arqit”) announced that Arqit has appointed Andy Leaver as chief executive officer and a member of the Board, with David Williams resigning from his role as CEO and as a member of the Board.

 

Mr. Leaver is an Operating Partner at Notion Capital Managers LLP (“Notion”), which is a shareholder of Arqit, and will initially be engaged as a secondee to Arqit from Notion through an agreement between Arqit and Notion Platform Ltd., an affiliate of Notion, pursuant to which Notion will invoice a day rate for Mr Leaver’s cash compensation. Mr. Leaver will also be granted Arqit restricted share units and options. He will act at the direction of the Board, independently from Notion.

 

In connection with the announcement, Arqit issued a press release, which is included as Exhibit 99.1 to this Report on Form 6-K.

 

Other than as indicated below, the information in this Report of Foreign Private Issuer on Form 6-K (including the exhibits hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This Report of Foreign Private Issuer on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form S-8 (File Nos. 333-262215 and 333-275960) and Form F-3 (File No. 333-268786 and File No. 333-259982).

 

Exhibit List

 

Exhibit No.		Description
99.1		Press Release of Arqit Quantum Inc., dated September 27, 2024.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	ARQIT QUANTUM INC.
	By:	/s/ Nick Pointon
	Name:	Nick Pointon
	Title:	Chief Financial Officer

 

Date: September 27, 2024

 

 

 

Exhibit 99.1

 

 

Arqit announces leadership transition with the appointment of a new Chief Executive Officer

 

London, UK – 21:30 BST 27 September 2024 – Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW), a leading provider of quantum-safe encryption, today announced a leadership transition. Andy Leaver, a seasoned software company executive and Operating Partner from Notion Capital, has been appointed as Chief Executive Officer and a member of the Board of Directors, effective today. Co-Founder and current CEO David Williams will step down from his role as CEO and as a member of the Board of Directors. The executive transition reflects a broader transition within the company from its early development stage to a phase of revenue and operational growth.

 

Mr. Williams’ entrepreneurial spirit was a driving force behind the development of Arqit’s symmetric key cryptography technology; the establishment of the company and key government, financial and partnership relationships. His contribution has been vital in bringing the company to its current stage of development.

 

Mr. Leaver brings a wealth of experience to the Chief Executive role having held senior executive roles at leading software companies including: Ariba, Bazaarvoice, Hortonworks, SuccessFactors and Workday as well as having been an adviser to several successful private software scale ups (e.g. OnFido). He has expertise in driving sustainable revenue growth and scaling businesses. He is an Operating Partner at Notion Capital, a leading European venture capital firm and early backer of Arqit. Mr. Leaver will act independently of Notion Capital in his role as CEO and at the direction of the Board of Directors. He has been advising Arqit on its go-to-market strategy as a consultant for the last six months so assumes his new role with understanding of the challenges and opportunities in front of the company.

 

David Williams, Co-founder of Arqit commented: “I take great pride in the on-going success of Arqit and see a bright future for the company. It has been a pleasure to get to know Andy over the last six months and he has already proven himself invaluable. I am confident he has the right mix of skills to lead Arqit through the next chapter of its journey.”

 

Andy Leaver, CEO added: “The threat to existing encryption from quantum computers is well documented and Arqit is doing something genuinely transformational in its field. It has a wealth of opportunities ahead of it and I look forward to stewarding the company at this critical juncture. On behalf of myself and the Board of Directors, I would like to thank David for his leadership and drive which has built the foundation for Arqit’s success going forward.”

 

-ends-

 

  

 

 

Notes to Editors 

  

About Arqit

 

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) supplies a unique encryption software service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Compatible with NSA CSfC Components and meeting the demands of NSA CSfC Symmetric Key Management Requirements Annexe 1.2. and RFC 8784, Arqit’s Symmetric Key Agreement Platform uses a lightweight software agent that allows end point devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and facilitate Zero Trust Network Access. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The product sits within a growing portfolio of granted patents. It also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. Arqit is winner of two GSMA Global Mobile Awards, The Best Mobile Security Solution and The CTO Choice Award for Outstanding Mobile Technology, at Mobile World Congress 2024, recognised for groundbreaking innovation at the 2023 Institution of Engineering and Technology Awards and winner of the National Cyber Awards’ Innovation in Cyber Award and the Cyber Security Awards’ Cyber Security Software Company of the Year Award. Arqit is ISO 27001 Standard certified. www.arqit.uk

 

Media relations enquiries:

Arqit: pr@arqit.uk

 

Investor relations enquiries:

Arqit: investorrelations@arqit.uk

 

 

 

  

Caution About Forward-Looking Statements

 

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit’s information technology and communications system, (vii) the enforceability of Arqit’s intellectual property, and (viii) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2023 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.

  

 

 

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