Softline Reorganization: 1+1>>2
smartmoney.oneThe listed company becomes fully international The company's reorganization will take place by selling Softline Russia (SLR) business to the company's founder Igor Borovikov for a symbolic $1.At the same time, a new shares issue (Bonus SLH Securities) is planned for all holders of Softline Holding (SLH) securities, except for Igor Borovikov, SGI Limited (controlled by the founder), who waived their right to SLH Bonus Securities.Russian business is going private.Temporarily? Founder’s stake is to be diluted According to the company, 50 million of shares is to be issued.
Thus, the total number of shares (fully diluted) will increase from 200 million to 250 million.While Igor Borovikov will get 100% in SLR (the Russian business), the stake of the company's founder Igor Borovikov (SGI Limited) will be diluted from a controlling share to 44%.