The company’s management want Broca, previously known as 2Safeguard, to break away from the 2ergo Group and trade separately on AIM.
Management plan to float the company market the day after an Extraordinary General Meeting (EGM) on March 5.
Should shareholders give their approval it is expected that Broca will have a market capitalisation of approximately £19.6m.
Keith Seeley, chairman of 2ergo Group, said: “M-commerce is a rapidly developing market and Broca’s security protocol, which has significant competitive advantages, is well placed to capitalise on this opportunity.
“The proposed Demerger will unlock value for shareholders, allowing the respective management teams to focus on their core activities while generating complementary revenue streams.
“The Directors consider that the proposed Demerger is in the best interests of shareholders and recommend that they vote in favour of the Demerger Resolution at the EGM as they intend to do in respect of their own beneficial holdings.”
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