Softline completes sale of its Russian business
20/10/2022 08:55
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RNS Number : 5482D Softline Holding PLC 20 October 2022
Softline Holding plc
("Softline" or the "Company")
Softline announces completion of the sale of its Russian business
London, 20 October 2022 - Softline (LSE: SFTL), the Cyprus-registered global
digital transformation and cyber security solutions and services provider
today announces completion of the sale of its Russian business.
Further to the RNS announcement and publication of the shareholder circular on
7(th) October 2022, Softline has completed the sale of Softline Russia to
Softline's original founder, Mr Igor Borovikov. Softline Russia is now a
separate and independent business to the Softline Group.
As disclosed in the circular, the separation is not conditional upon the Bonus
Issuance and the Board has determined it is in the best interests of Softline
securityholders to complete the separation at this time. The bonus issuance
remains subject to shareholder approval at the General Meeting on 25(th)
October, and it remains Softline's intention to complete the bonus issuance in
line with the previously stated expectation, as soon as shareholder approval
has been obtained.
Softline Global looks forward to focussing on its international growth
strategy and optimising shareholder value.
Media Contact Investor Relations Contact
Steven Salter
Eve Frayling
Softline@pagefield.co.uk (mailto:Softline@pagefield.co.uk) Global Investor Relations VP
IR@softline.com
Rocio Herraiz Alexandra Melnikova
Global Head of Communications Investor Relations Director
Rocio.herraiz@softline.com (mailto:Rocio.herraiz@softline.com) IR@softline.com
About Softline
Softline today is a leading global solutions and services provider in digital
transformation and cyber security, with its headquarters in London. The
company enables, facilitates and accelerates the digital transformation of its
customers' businesses, connecting over 150,000 organizations from all
industries with over 6,000 best-in-class IT vendors, and delivering its own
services and solutions. Foundation of Softline's growth is so-called
three-dimensional strategy, which includes geographic, portfolio and sales
channel expansion. This strategy is supported by energetic M&A activity,
so Softline is benefiting from the on-going consolidation of the industry.
Thanks to this strategy, Softline is currently one of the fastest growing
companies in the sector. Softline delivered turnover of US$2.2 billion in
fiscal year 2021. In October 2021, the company conducted a primary listing on
the London stock exchange.
Softline's 8,400 employees work in almost 60 countries throughout Asia, Latin
America, Eastern Europe, Middle East and Africa - markets with significant
growth potential.
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