Computime Holdings plc - Initial Public Offering

On 4 November 2024, Computime Holdings plc published a Prospectus in relation to an offer for sale by the selling shareholders of 22,987,600 ordinary shares at an offer price of €0.45 each.

Computime Holdings plc is a holding company which has interests in companies and other ventures operating in the business-to-business ICT solutions industry, primarily in Malta, but also in Europe and North Africa. The Group operates three business divisions, namely: Business Software Division, Fintech Division, and Systems Integration Division. While the Group benefits from long-standing partnerships with leading technology partners and vendors in the Business Software Division and the Systems Integration Division, the products and solutions offered under the Fintech Division have been developed in-house.

The salient features of the offer are as follows:

Amount of Shares on Offer:

22,987,600 (representing 37% of the Company’s issued share capital). All the shares are offered for sale by the selling shareholders and there will not be any new shares issued by the company.

Share Offer Price:

The shares are being offered at €0.45 per share. However, employees of the Group as at 31 October 2024 (including Anthony Mahoney as an independent non-executive director) will have the opportunity to subscribe for up to 1,000,000 shares at a price of €0.36 per share (20% discount). Additionally, the price of €0.4365 per share (3% discount) will be granted to applicants subscribing for sizeable amounts through placement agreements of up to 8,671,932 shares.

Reasons for the Offer & Use of Proceeds:

The sale of shares by the selling shareholders represents a partial realisation of their investment in the Company.

Dividend Policy:

The Board of Directors intends to distribute not less than 60% of distributable reserves to its shareholders. The intention is to distribute 75% and 70% of the Group’s distributable reserves to its shareholders during financial year ended 31 December 2024 and financial year ended 31 December 2025, respectively, which the Board believes to be sustainable given the Group’s expected future capital investment and projected financial performance.

Offer Period:

4 November to 29 November 2024 (or earlier in the event of oversubscription)

Minimum Subscription Amount:

3,000 shares (equivalent to €1,350) and in multiples of 200 shares thereafter.

Listing:

The shares of Computime Holdings plc are expected to be admitted to the Official List of the Malta Stock Exchange on 12 December 2024 and trading is expected to commence on 16 December 2024.

Download:

Computime Holdings plc – Prospectus dated 31 October 2024

 

Disclaimer:

Investors wishing to acquire the shares should read the Prospectus (in particular the ‘Risk Factors’) before making any investment decision in order to fully understand the potential risks and rewards associated with an investment in the shares. A copy of the Prospectus is available on Rizzo, Farrugia & Co. (Stockbrokers) Limited’s website. The investment in the shares may not be suitable for all investors and prospective participants are urged to consult their financial advisers as to the suitability or otherwise of acquiring the shares. The value of the investment and the income therefrom may go down as well as up and investors may lose some or all of the money invested.

This webpage has been prepared based on the Prospectus dated 31 October 2024 issued by Computime Holdings plc and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with respect to the accuracy of the data. This webpage is for information purposes only. It is NOT intended to be and should NOT be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.

This ADVERTISEMENT has been issued by Rizzo, Farrugia & Co. (Stockbrokers) Limited, a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta, and having its registered address at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.