TORONTO, Sept. 13, 2019 /CNW/ -- Sarment Holding Limited ("SAIS" or the "Company") (TSXv: SAIS), today is pleased to announce the closing of the sale of its traditional wine and spirits distribution business (the "Transaction"), as previously published on July 29, 2019.
Today's announcement follows the Company's Annual General and Special Meeting (the "Meeting") held on August 30, 2019 where the shareholders of the Company voted to approve the Transaction. The closing of the Transaction was also approved as necessary by TSX Venture Exchange.
"The Transaction significantly improves the Company's balance sheet by reducing US$20.5 million of debt and also enables the Company to fully dedicate itself to accelerating its technology business, Kaddra," said Quentin Chiarugi, Chief Executive Officer of SAIS.
Full details of the Transaction are set out in the management information circular dated July 29, 2019. A copy of the management information circular in connection with the Transaction can be found on SEDAR at www.sedar.com.
Singapore-based SAIS is a provider of advanced technology solutions, business intelligence and supporting services. Across our units, we connect businesses with their customers through end-to-end intelligent solutions. A global leader in the development of Customer Experience Management (CEM) platforms, we are focused on utilising AI to create technology aimed at providing unique digital experiences, and crafted to foster ground-breaking client-customer relationships.
To learn more about SAIS Group, visit our website: sais-group.com
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sarment Holding Limited
For further information: For further information contact: Deborah Krish, SAIS Corporate Office, [email protected], (65) 6424 0411