Softline announced the completion of its tender offer
London, 19 May 2022 – Softline (LSE: SFTL), the Cyprus registered Global IT and digital transformation solutions provider headquartered in London and operating in 60 countries announced the completion of its tender offer, with 4,420,277 GDR’s repurchased from shareholders priced at $1 per Ordinary Share or GDR.
As previously announced, Softline initiated the tender offer in the best interests of its shareholders to provide an opportunity to sell for those shareholders with a need to close their positions.
With the minimal take up of just 2% of diluted shares outstanding, the outcome of the tender offer has confirmed that shareholders believe in the more fundamental value in Softline, and the clear strategy for increasing company value.
It is expected that the proceeds of the tender offer will be credited to the Euroclear or Clearstream accounts of tendering shareholders as soon as practicable, or otherwise despatched in accordance with the procedures outlined in Softline’s tender offer announcement dated 14 April 2022.
Global VP Investor Relations