Investment in Creative Technology Solutions

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                                             [phone]

Symphony Asia Holdings Pte. Ltd.

Numis Securities Limited:

Hugh Jonathan                                          [phone]

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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