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.
About SAIS
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