Teddy Sagi’s family office confirms an acquisition of 3,995,185 additional shares in SafeCharge International Group Ltd for £13 million

This investment gives Northenstar Investments Ltd, an IOM company fully owned by Mr Sagi, a 68.34% stake in the company

Teddy Sagi’s family office confirms an acquisition of 3,995,185 additional shares in SafeCharge International Group Ltd for £13 million

Globe Invest, the family office of Teddy Sagi, has today confirmed that Northenstar Investments Ltd has increased its shareholding in SafeCharge International Group Ltd (“SafeCharge”) by acquiring an additional 3,995,185 shares in the AIM listed entity.

Northenstar’s shareholding has risen to 68.34% following the new transaction. Northenstar is an IOM company wholly owned by Teddy Sagi.

The strike price of the deal was 325 pence and the total valuation being approximately £13 million.

The co-sellers are a company related to David Avgi, the co-founder and CEO of SafeCharge, and Mr. Avgi both of which will be assigning option vested shares . This is the first time that Mr Avgi or the related company have sold any SafeCharge shares since its AIM listing, but both in combination retain a material shareholding.

A Globe Invest spokesperson says, “The additional shareholding in SafeCharge shows Northenstar and its shareholder Teddy Sagi’s commitment to the company. This latest move reflects his confidence in the future prospects of SafeCharge.”

Teddy Sagi and his family decided to diversify their wealth back in 2016 and agreed on a new strategy of investing in real estate, co-working, technology, fintech and e-commerce ventures.

Teddy Sagi comments, “SafeCharge is an excellent payments and technology company with strong growth potential. It is an important part of our investment strategy and focus.”

Globe Invest Limited was established in September 2016 and acts as the single family office of Teddy Sagi. The office consists of a team of expert advisors who manage the interests and investments of the principal and his family. It focuses on preserving their wealth, legacy and reputation, underpinned by strong ethical and corporate governance, controls and principles.

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Categories: News
Tags: SafeCharge

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