All Portfolio
Central & Eastern Europe
Africa
Latin America
Asia
Portfolio
Careers
All Portfolio
  • Main
  • News
  • Noventiq (formerly Softline) announces GDR buyback programme update
Noventiq (formerly Softline) announces GDR buyback programme update
02/02/2022

Noventiq (formerly Softline) announces GDR buyback programme update

2nd February 2022, London, UK - Softline Holding PLC [SFTL, US83407L2079] ("Company"), a leading global IT solution and services provider with a focus on digital transformation, cloud, and cybersecurity today announces an increase to the pecuniary amount allocated to its previously announced GDR buyback programme (the “Programme”).

Softline Holding plc began trading under the brand name Noventiq after divesting part of its business in October 2022.

As previously announced, the Company intends to continue buying (either directly or through its subsidiary) GDRs on market and hold them in treasury. The purpose of the Programme is to fund the Company's long-term management incentive plan, as notified in the Company’s half year report on 30 November 2021, and additionally the long-term employee partnership program (“LTEPP”), and the employee share purchase scheme announced on 24 January 2022.

The overall pecuniary amount allocated to the Programme will now be up to US$100 mn (an increase from the earlier announced US$10 mn). All purchases of Shares and/or GDRs will be made by the Company or through a subsidiary, which has engaged a company within Sberbank group to act as an independent broker to execute any purchases pursuant to the Program.

The Programme will be conducted consistent with the general authority to repurchase GDRs granted by the Company’s Board of Directors held on 26 November 2021, and otherwise in accordance with applicable laws and regulations. The maximum number of GDRs that can be bought back under the Programme remains up to 10% of the Company’s issued share capital (no more than 18.3 mn GDRs) and the Company cannot own such GDRs for more than 2 years. The company will continue to fund the buyback programme from operations, and finance investments. As approved by the Board the Programme has one year duration starting from the date of approval. However, the Company intends to continue the Programme for the next few years.

Details of any purchases made under the Programme will be provided via RNS announcements and published on the Company's website.

Igor Borovikov, The Founder and the Chairman of Softline Group, commented:

“The demand for digital transformation and cybersecurity solutions around the world is not decreasing. With our newly announced Long Term Employee Partnership Program, we are going to be the leading and the most attractive employer in our sector of the industry. With our shares fundamentally undervalued, considering our growth, portfolio, access to talent and markets where we operate, it is the right time to invest in our employees. I also see this as the right time to increase my shareholding in the company that is confident in its ability to grow, has significant investment capacity after the IPO, and is consistently executing on its three-dimensional growth strategy and is actively acquiring companies to support of its growth plans.”

Contacts

Eve Frayling
Media

Steven Salter
Global VP Investor Relations

 
 

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. Softline is executing its three-dimensional growth strategy of geographic, portfolio and sales channel expansion.

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 listed on the London and Moscow stock exchanges. Since the end of fiscal year 2020, Softline has acquired several companies with the total annual turnover of roughly US$200 million.

Softline's 6,500 employees work in almost 60 countries throughout Asia, Latin America, Eastern Europe and Africa – markets with significant growth potential. The company delivers a comprehensive range of IT solutions and is at the center of the digital transformation megatrend.

More news

See all
Your data has been sent

We will try to contact you as soon as possible

Choose country
Eurasia
Middle East & Africa
Americas
Asia
Choose language
Confirm your acceptance of the terms

The information contained in the following pages is restricted and is not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction or the rules of any exchange or other organized trading venue.

The information and documents contained on this website are addressed to, and intended solely for, persons registered in book-entry form as beneficially entitled to global depositary receipts (the "GDRs") representing ordinary shares of par value US$0.00023647 each in the share capital of Noventiq Holdings plc (the "Company") who are: (a) not resident in, incorporated in, established in, or citizens of, any of the Restricted Territories (as defined below) or Russia which, with respect to individuals, includes citizens of Russia who have a second citizenship outside Russia; and (b) not subject to the UK, EU, US or the United Nations Security Council sanctions (the "Eligible Holders").

THE INFORMATION AND DOCUMENTS CONTAINED ON THIS WEBSITE SHOULD NOT BE MAILED, DISTRIBUTED, SENT, FORWARDED TO OR TRANSMITTED IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY JURISDICTION WHICH WOULD BREACH ANY APPLICABLE LAW OR REGULATION (THE "RESTRICTED TERRITORIES").

THE OFFER TO EXCHANGE CERTAIN GDRS REPRESENTING ORDINARY SHARES IN THE COMPANY IN CONSIDERATION FOR NEWLY ISSUED ORDINARY SHARES IN THE COMPANY (THE "EXCHANGE OFFER") IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN ANY RESTRICTED TERRITORY AND THE DOCUMENTS CONTAINED ON THIS WEBSITE MAY NOT BE DISTRIBUTED OR SENT IN OR INTO OR FROM ANY RESTRICTED TERRITORY AND DOING SO MAY RENDER INVALID ANY PURPORTED EXCHANGE. THE DOCUMENTS CONTAINED ON THIS WEBSITE HAVE NOT BEEN, AND WILL NOT BE, REVIEWED OR APPROVED BY ANY SECURITIES COMMISSION OR ANY OTHER AUTHORITY OR REGULATORY BODY. NONE OF THE DOCUMENTS CONTAINED ON THIS WEBSIDE IS A PROSPECTUS AND CAN BE RELIED ON FOR ANY INVESTMENT CONTRACT OR DECISION.

THE EXCHANGE OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, TO PERSONS INCORPORATED OR ESTABLISHED IN, OR CITIZENS OF, RUSSIA INCLUDING, WITH RESPECT TO INDIVIDUALS, THOSE CITIZENS OF RUSSIA WITH A SECOND CITIZENSHIP ELSEWHERE.

THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AN EXTENSION INTO THE UNITED STATES OF THE EXCHANGE OFFER AND IS NOT AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN THE UNITED STATES.

NOTICE TO US HOLDERS: THE EXCHANGE OFFER IS NOT BEING MADE, AND WILL NOT BE MADE, DIRECTLY OR INDIRECTLY IN OR INTO, OR BY USE OF THE MAILS OF, OR BY ANY MEANS OR INSTRUMENTALITY OF INTERSTATE OR FOREIGN COMMERCE OF OR OF ANY FACILITIES OF A NATIONAL SECURITIES EXCHANGE OF, THE UNITED STATES. THIS INCLUDES, BUT IS NOT LIMITED TO, FACSIMILE TRANSMISSION, ELECTRONIC MAIL, TELEX, TELEPHONE, THE INTERNET AND OTHER FORMS OF ELECTRONIC COMMUNICATION. THE ELIGIBLE GDRS MAY NOT BE TENDERED IN THE EXCHANGE OFFER BY ANY SUCH USE, MEANS, INSTRUMENTALITY OR FACILITY FROM OR WITHIN THE UNITED STATES OR BY PERSONS LOCATED OR RESIDENT IN THE UNITED STATES. ACCORDINGLY, COPIES OF THE DOCUMENTS CONTAINED ON THIS WEBSITE ARE NOT BEING, AND MUST NOT BE, DIRECTLY OR INDIRECTLY, MAILED OR OTHERWISE TRANSMITTED, DISTRIBUTED OR FORWARDED (INCLUDING, WITHOUT LIMITATION, BY CUSTODIANS, NOMINEES OR TRUSTEES) IN OR INTO THE UNITED STATES OR TO ANY US PERSONS OR ANY PERSONS LOCATED OR RESIDENT IN THE UNITED STATES. ANY PURPORTED TENDER OF ELIGLBE GDRS UNDER THE EXCHANGE OFFER RESULTING DIRECTLY OR INDIRECTLY FROM A VIOLATION OF THESE RESTRICTIONS WILL BE INVALID AND ANY PURPORTED TENDER OF ELIGIBLE GDRS UNDER THE EXCHANGE OFFER MADE BY A PERSON LOCATED IN THE UNITED STATES OR ANY AGENT, FIDUCIARY OR OTHER INTERMEDIARY ACTING ON A NONDISCRETIONARY BASIS FOR A PRINCIPAL GIVING INSTRUCTIONS FROM WITHIN THE UNITED STATES WILL BE INVALID AND WILL NOT BE ACCEPTED. EACH ELIGIBLE HOLDER PARTICIPATING IN THE EXCHANGE OFFER WILL REPRESENT THAT IT IS NOT A US PERSON, IT IS NOT LOCATED IN THE UNITED STATES AND IT IS NOT PARTICIPATING IN THE EXCHANGE OFFER FROM THE UNITED STATES OR IT IS ACTING ON A NONDISCRETIONARY BASIS FOR A PRINCIPAL THAT IS NOT A US PERSON, THAT IS LOCATED OUTSIDE THE UNITED STATES AND THAT IS NOT GIVING AN ORDER TO PARTICIPATE IN THE EXCHANGE OFFER FROM THE UNITED STATES.

By pressing the "YES, I CERTIFY" button below you are certifying that you are the Eligible Holder or its authorized representative or agent. You are also certifying that you have read and understood the disclaimer above and that you are a person who is otherwise permitted under applicable law and regulation to receive information of the kind contained on this website and participate in the Exchange Offer.

If you are not the Eligible Holder or its authorized representative or agent, or you cannot provide the above certification please press the "NO, I CANNOT CERTIFY" button.