Business Split Announcement

Newsletter - Business Split Announcement (Share Purchase from Tesserent)

Topic's

In this newsletter:

Overview
Purpose
Business Split Update (Selling of International (Asia) entities by Tesserent ).
Schedule for Completion.
Future Opportunities.

Overview

We want to announce that the Tesserent (TNT) international entities have been sold. The business across Asia has been undergoing the Split process for the last few months. We will soon be independent, with the New Board & Management and newer strategies to grow the organization. We welcome all to join our hands to support us in continuing this more remarkable journey of excellence. We welcome all to be part of the growth strategy to be the supporting pillars & walls of this renewed & refreshed Organization.

Purpose

As part of the company's long-term strategy & its continued focus on critical business areas & regions, Tesserent Board expressed its intention to sell out the international entities (Singapore, Malaysia & India). Secure Logic has welcomed its decision to facilitate the split process to be able to work on the required compliances before we part away from Tesserent Pty Ltd. (TNT).

SL Board Statement over the change

Renewed with the Greater Vision, higher business objectives, and Broader strategies to achieve more significant Goals.

Future Benefits

Regionally focused, Sustained profit generation accelerated decision-making processes and reinforced business competitiveness.

Process Schedule or Window for the Split

Approval of the Share Purchase agreement (by the TNT Secretary & CEO): 15th January 2023
Signed & agreed by both parties (Seller & Buyer): 16th January 2023
Execution of the Share Purchase Agreement: 15th January 2023
Settlement of Purchase Dues to Tesserent: Completed on 15th March 2023
The effective Completion of the Split & Migration: April 30th, 2023 (Scheduled)

Opportunities

Greater Scale-up opportunity to focus on the Regional Market.
Greater Objectivity with renewed Vision, Mission & Values.
Shorter Approval times to move fast over the Plans.
Greater Visibility & Growth.
Regionally inclined Strategies.
Use of Automation to be efficient.

Impact statement

There will be no impact on existing customers & the contracts as the business continues to operate, focusing more on expanding, and growing in the region than ever before.

For any clarification or details, please write to compliances@securelogicgroup.asia.

Newer Platform, newer workspace, better process, higher ambitions, more significant Goals & better Strategies to Play & Win.