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WISETECH GLOBAL LIMITED — Capital/Financing Update 2016
Jul 7, 2016
66086_rns_2016-07-07_496b4e58-62be-4a0c-932e-cc9614afaba1.pdf
Capital/Financing Update
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08 July 2016
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ASX Announcement: 2016\15
WiseTech Global confirms increase in SoftShip AG strategic holding to 43.0%
WiseTech Global confirms an increase in its existing strategic investment in SoftShip AG (SoftShip) from 19.9% to 43.0%. While we have made no offer, nor have we entered into any agreement, with respect to the full acquisition of SoftShip, our 43.0% investment provides us with control and financial consolidation.
German domiciled and listed, SoftShip AG, is a leading provider of logistics software solutions to the global sea-freight industry with a significant European customer base. For the full year to 31 Dec 2015 SoftShip’s group revenue was Euro 7.9m and NPAT 0.6m. The total acquisition cost of our 43.0% investment is Euro 5.2m.
This transaction is in line with our stated strategy of accelerating our organic growth through select acquisitions in new geographies and adjacencies.
Our CEO, Richard White, said “Increasing our investment in SoftShip, a leader in solutions for sea-freight carrier and agent, will provide us with further long term opportunities to accelerate our organic growth and expand our global platform, CargoWise One”.
“We have been an investor in SoftShip since late 2014 and believe the strength of its European operations, management and position in Germany will be a good fit within the WiseTech group, and we look forward to working together.” he said.
We will consolidate the SoftShip business into our financial statements for our full 2017 financial year. The transaction will have no impact on our full year 2016 results which we expect to announce to market on 24 August 2016.
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WiseTech Global Limited ABN 41 065 894 724 Unit 3a, 72 O’Riordan Street Alexandria NSW 2015
About WiseTech Global
WiseTech Global is an innovative, multi-award winning global developer of cloud-based software solutions for the international and domestic logistics industries. Since 1994 we have helped logistics companies efficiently manage the movement of goods and information. Our leading platform, CargoWise One, forms an integral link in the global supply chain. With over 6,000 customers across 7,000 sites in more than 115 countries, our breakthrough software solutions are renowned for their powerful productivity, extensive functionality, comprehensive integration, deep compliance capabilities, and their truly global reach.
WiseTech Global is listed on the ASX (ticker WTC)
For more information on WiseTech Global, please visit:
Investor centre www.wisetechglobal.com/investors Company website www.wisetechglobal.com
About SoftShip AG (SFO)
Founded in Germany in 1989 and listed on the Frankfurt Stock Exchange, XETRA, SoftShip is the leading provider of software solutions to the international liner shipping industry. Serviced from offices in Hamburg, Manilla, Miami and Singapore, SoftShip clients around the globe include deep-sea, shortsea and feeder container operators, liner agents, and terminal operators.
For more information on SoftShip AG, please visit:
Company website www.softship.com
Contact information
Investor Relations
Gail Williamson +61 2 8001 2200 [email protected]
Media
Peter Brookes +61 2 8234 0100 [email protected] Matthew Gregorowski +61 2 8234 0100 [email protected]
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