16 Feb 2023 11:21

Softline shareholders approve redomiciliation, name change to Noventiq

MOSCOW. Feb 16 (Interfax) - The shareholders of Softline Holding plc, an international information technology company that has been trading under the Noventiq brand since October 20, on Wednesday approved changing the company's jurisdiction from Cyprus to the Cayman Islands.

Softline Holding said in a press release on Wednesday that "all resolutions put to shareholders at the Company's General Meeting held earlier today were duly passed."

In addition to the redomiciliation, shareholders were asked to approve changing the company's name to Noventiq Holdings plc. This item was also passed.

Softline Holding announced plans to re-domicile the business from Cyprus to the Cayman Islands at the end of January. The company said then that if shareholders, as well as Cyprus and Cayman regulators approve the move, it could be completed in mid-June 2023.

Softline completed the divestment of its Russian business in October 2022, selling it to group founder Igor Borovikov for a symbolic $1. The Russian division now operates independently of the parent company.

At the same time, the group's international division announced the new brand Noventiq, although the name of the legal entity was left unchanged as Softline Holding.

The company also plans to delist from the London Stock Exchange. Earlier in February Softline Holding reach an agreement with special purpose acquisition company Corner Growth Acquisition Corp. on a business combination that would result in the combined company being publicly listed on Nasdaq. The companies plan to finalize the business combination agreement in the coming weeks, Softline Holding said.