29 Apr 2022 16:07
Softline Holding plc
("Softline" or the "Company")
Amendment to Long-term Incentive Plan
London, 29 April 2022 - Softline (LSE: SFTL), the Cyprus registered Global IT and digital transformation solutions provider headquartered in London and operating in 60 countries announced that based on the current commercial environment and the increased volatility and uncertainty in the market, the Company will amend the existing long-term incentive plan ("LTIP") to include the introduction of a fixed option to share conversion ratio of 1:0.85 applicable for exercise below the $7.5 per share threshold (IPO price). The amendment relates to the portion of options with a $1.12 strike price, with no change to the existing strike price, and no impact on dilution.
Media Contact Eve Fraylingeve.frayling@pagefield.co.uk
| Investor Relations ContactSteven Salter Global Investor Relations VP IR@softline.com |
About Softline
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers' businesses, connecting over 150,000 organizations from all industries with over 6,000 best-in-class IT vendors, and delivering its own services and solutions. The foundation of Softline's growth is the so-called three-dimensional strategy, which includes geographic, portfolio and sales channel expansion. This strategy is supported by energetic M&A activity, so Softline is benefiting from the on-going consolidation of the industry.
Thanks to this strategy, Softline is currently one of the fastest growing companies in the sector. Softline achieved a turnover of US$ 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.