Aurum Mining Plc will seek to divest its existing mining assets over the coming months and focus on moving toward the information and cyber security business.

The company on Dec. 21 said it is looking to raise gross proceeds of about £6 million and change the company's name to Shearwater Group plc.

Aurum will conditionally place up to 150.0 million common shares at 4 pence per share.

The name change is subject to a shareholder approval in January 2017.