Symphony International Holdings Ltd Investment in Creative Technology Solutions (8802D)
July 01 2019 - 2:00AM
UK Regulatory
TIDMSIHL
RNS Number : 8802D
Symphony International Holdings Ltd
01 July 2019
Not for distribution, directly or indirectly, in or into the
United States or any jurisdiction in which such distribution would
be unlawful.
Symphony International Holdings Limited ("Symphony")
1 July 2019
Investment in Creative Technology Solutions
Symphony International Holdings Limited (LSE: SIHL) is pleased
to announce that it has, through a wholly-owned subsidiary,
invested in Creative Technology Solutions DMCC ("CTS"), a company
that provides customized IT solutions to the education sector in
the United Arab Emirates and increasingly in other countries in the
Gulf Cooperation Council ("GCC"). This opportunity was introduced
by Mr. Samer Alsaifi, who joined Symphony's board as an Independent
Director earlier this year.
CTS was founded by Basem Chbaklo and Haissam Issa in 2013 to
cater to the growing demand for technology driven classrooms in
primary and secondary schools in the GCC region. CTS provides
turnkey technology solutions to schools that include hardware,
software, maintenance and training support. The solutions provided
by CTS integrates IT and the internet into the overall learning
experience for students to prepare them for the future. Symphony
has entered into an agreement that will provide a minority position
in CTS, which will represent less than 1% of Symphony's NAV.
Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a
Director of Symphony, said:
"CTS will represent our first investment in the GCC region and
within the education space, which is a key sector for Symphony. We
are excited to work with Basem and Haissam who have a strong track
record for building successful businesses in and outside the Middle
East."
For further information:
Anil Thadani +65 6536 6177
Symphony Asia Holdings Pte. Ltd.
Numis Securities Limited:
Hugh Jonathan +44 (0) 20 7260 1000
Nathan Brown
About Symphony
Symphony is a London listed strategic investment company that
invests in a wide variety of businesses in the healthcare,
hospitality and lifestyle ("HH&L") sectors (including branded
real estate developments), which are principally in Asia. It offers
a way for investors to gain exposure to businesses that benefit
from the rising disposable incomes and wealth creation in the fast
growing economies of Asia. Symphony's objective is to provide
superior capital growth by investing in high quality companies and
forming long-term business partnerships with talented
entrepreneurs. Symphony is managed by Symphony Asia Holdings Pte.
Ltd., which has a team of investment professionals with a broad
range of expertise - many of them have been working in Asia for
more than 25 years. For more information, please visit our website
at www.symphonyasia.com
No representation or warranty is made by the Company as to the
accuracy or completeness of the information contained in this
announcement and no liability will be accepted for any loss arising
from its use.
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Company in
any jurisdiction. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment
decisions.
This announcement is not an offer of securities for sale into
the United States. The Company's securities have not been, and will
not be, registered under the United States Securities Act of 1933
and may not be offered or sold in the United States absent
registration or an exemption from registration. There will be no
public offer of securities in the United States.
The Company and the Investment Manager are not associated or
affiliated with any other fund managers whose names include
"Symphony", including, without limitation, Symphony Financial
Partners Co., Ltd.
End of Announcement
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END
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