13 Dec 2021 07:00
Softline announces GDR buyback programme
13th December 2021, 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 a GDR buyback programme during the period commencing from 13 December 2021 and ending on 13 December 2022 (the "Programme").
The Company intends to buy (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.
The overall pecuniary amount allocated to the Programme will not exceed US$10 mn. All purchases of Shares and/or GDRs will be made by the Company or through a subsidiary, which has engaged a company within Sberbank group to act as an independent broker to execute any purchases pursuant to the Programme.
The Programme will be conducted consistent with the general authority to repurchase GDRs granted by the Company's Board of Directors held on 26 November 2021, and otherwise in accordance with applicable laws and regulations. The maximum number of GDRs that can be bought back under the Programme is up to 10% of the Company's issued share capital (no more than 18.3 mn GDRs) and the Company cannot own such GDRs for more than 2 years.
Details of any purchases made under the Programme will be provided via RNS announcements and published on the Company's website.
Contacts
Rocio Herraiz Steven Salter
Head of Global PR Investor Relations VP
Rocio.herraiz@softline.com IR@softline.com
About Softline
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers' businesses, connecting over 150,000 enterprise organizations across a comprehensive range of industries with over 6,000 best-in-class IT vendors, and delivering its own services and proprietary solutions.
With approximately 6,000 employees globally, Softline operates in more than 50 countries with significant growth potential in multiple markets from Asia, Latin America, Eastern Europe and Africa. The company addresses the entire rage of its customers' IT needs and is positioned at the center of the digital transformation megatrend.
Since its inception, Softline has achieved a turnover of US$ 1.8 billion in the fiscal year of 2020, and it's currently one of the fastest growing companies in the sector. In October 2021, the company conducted a successful initial public offering of its depositary receipts on the London and Moscow stock exchanges.