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.
Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.
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.
Global Head of Communications
Global Investor Relations VP
Investor Relations Director
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.