Update on Business and Operations
06/05/2022 16:44
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RNS Number : 6750K Softline Holding PLC 06 May 2022
Softline Holding plc
("Softline" or the "Company")
Softline is exploring alternative options to adjust the group's assets and
ownership structure
London, 6 May 2022 - Softline (LSE: SFTL), the Cyprus registered Global IT
and digital transformation solutions provider headquartered in London and
operating in 60 countries provides the following update.
Softline is committed to helping its clients with digital transformation in
all of the geographies where it operates. It is clear that the ongoing
geopolitical events have had a disproportionate influence on Softline's market
value, which does not now reflect the company's fundamental value.
The company continues to proactively navigate the evolving market in Russia,
mitigating impacts where possible, including certain disruptions on day to day
operations, supply impacts, and vendor restrictions. The Russian and
non-Russian businesses now differ significantly in operations, priorities, and
go-to-market strategies. As a result, Softline is exploring alternative
options to adjust the group's assets and ownership structure in order to
optimize value for all of its stakeholders. Softline remains fully committed
to serving customers globally with a focus on growth and addressing our
customers, employees, vendors, and shareholders' needs and values.
Media Contact Investor Relations Contact
Steven Salter
Eve Frayling
eve.frayling@pagefield.co.uk (mailto:eve.frayling@pagefield.co.uk) Global Investor Relations VP
+44 (0)7896 540438 or Softline@pagefield.co.uk
(mailto:Softline@pagefield.co.uk) IR@softline.com
About Softline
Softline is a leading global solutions and services provider in digital
transformation and cybersecurity, 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 achieved a turnover of US$ 1.8 billion in
the fiscal year of 2020. In October 2021, the company conducted a primary
listing on the London stock exchange. Since the end of fiscal year 2020,
Softline has acquired several companies with a total annual turnover of
approximately US$ 200 million. Five more acquisitions got announced in the six
weeks since the start of 2022.
Softline's 8,200 employees work in almost 60 countries throughout Asia, Latin
America, Eastern Europe and Africa - markets with significant growth
potential.
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