FTSE AIM 100 tech company relocates from BVI to Guernsey
26 November 2015
SafeCharge International Group Limited has relocated its fund domicile from the British Virgin Islands to Guernsey.
The company which was floated on AIM of the London Stock Exchange (LSE) in April 2014, raising US$125 million, now regularly ranks in the FTSE AIM 100. SafeCharge is an international provider of payments services, technologies and risk management solutions, providing its services to a number of online and mobile businesses.
At the time of migration, which was completed on 30 October, it was capitalised at around £400 million.
SafeCharge's decision to move to Guernsey was motivated by several factors, one of those being Guernsey's reputation as a base for a number of funds and companies which are listed on the LSE. The company also viewed Guernsey as well-positioned for it to make a potential move to the LSE's Main Market in the future. This is bolstered by the fact that Guernsey companies benefit from the City Code on Takeovers and Mergers, which provides greater protection to shareholders. Its domicile in Guernsey will enable the company to enjoy greater exposure to potential investors thereby facilitating liquidity in its shares.
Group Business Development Director at SafeCharge, Tim Mickley, said: "This is an important milestone for the Group. Guernsey fits our requirements perfectly with its sound regulatory standards and solid reputation in financial services. It's also an easy and efficient place to do business."
Collas Crill advised SafeCharge on the redomiciling. The team was led by Partner Sean Cheong, assisted by Senior Associate Gareth Morgan and Associate Simon Heggs.
Ms Cheong commented: "SafeCharge's decision to redomicile in Guernsey is excellent news for the island. It is important to ensure that companies like SafeCharge, with strong credentials in fintech, continue to be attracted to Guernsey."
The SafeCharge group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland. The group has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals.Back to News
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