Safeture plans to sell Travelogix to focus on core enterprise offering

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Safeture AB (ticker: SFTR) (“Safeture”) today announced that it has signed an agreement to sell its 51 percent holding in the U.K.-based travel software company Travelogix Limited (“Travelogix”) to the firm’s management team for 375,000 GBP (about 4.4 million SEK) to be paid in cash upon closing of the transaction. Safeture will use the proceeds from the sale to reinvest in its core Enterprise offering. Since the shares are sold to the management team in Travelogix, closing of the transaction is conditional upon Safeture shareholders approving the transaction at an extraordinary general meeting to be held on 20 September 2019. A notice to the extraordinary general meeting will be published through a separate press release.  

Safeture bought its controlling stake in Travelogix, which specializes in developing and selling software for processing travel data, in 2016. The acquisition enabled Safeture to gain valuable knowledge and develop technology that is now part of the Safeture Enterprise platform and owned by the Safeture mother company.

“Safeture took a major step this year rebranding and sharpening its focus on large corporates tasked with safeguarding their employees whether it is at the office or while on the road traveling,” said Safeture Chairman Semmy Rülf. “Safeture Enterprise has tremendous potential and is at our core. Travelogix was a valuable business for us, but Travelogix needs to go in a different direction and the money will be better used to feed our ambitious growth plans.” 

Safeture Enterprise is a complete and cloud-based service to manage risk, safety and crises processes involving employees. It is an open platform, which allows clients to adopt specific internal processes and integrate it with external suppliers, such as assistance providers or other software, including internal employment databases or intranets. 

The transaction will result in an increase of the cash in the mother company Safeture AB of 375,000 GBP before transaction costs. The sales of Travelogix will result in an estimated short term decrease of the group revenue by approximately 30%, but the long-term impact will be less as we see greater market potential in Safeture’s core business. The sale of the shares will result in a capital gain of approximately 1.3 million SEK before transaction costs and is estimated to have a minimal impact on Safeture’s long-term group result. Assuming that the transaction is approved at the extraordinary general meeting, closing is expected to occur soon after. 

For additional information, visit www.safeture.com or contact:

Safeture Chairman Semmy Rülf: +46 (0) 709 312 730.  Semmy.rulf@gmail.com 

This press release is information that Safeture AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09.00 am CET on 2019-08-30

About Safeture AB

Safeture (former GWS, Global Warning System), was founded in 2009, triggered by the experience with a global SARS epidemic, the 2004 Indian Ocean tsunami, and the Mumbai terror attacks. The company offers a unique security platform: Safeture, which is the new, complete way to take control of employee safety with state-of-the-art technology.

The Safeture share is listed on NASDAQ First North Stockholm (ticker: SFTR). Erik Penser Bank AB is the Certified Adviser. Ph: +46 8-463 83 00 E-mail: certifiedadviser@penser.se.

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Quotes

Safeture Enterprise has tremendous potential and is at our core.
Safeture Chairman Semmy Rülf