- Published: 17 February 2016
SANDPIPER Digital Payments AG increased its stake in PlayPass and resolves on Issuance of Bonds
St. Gallen (CH), February 17th, 2016: SANDPIPER Digital Payment AG ("SANDPIPER", ISIN: CH0033050961, Ticker: SDP, www.sandpiper.ch) increased its stake in Antwerp based PlayPass NV to 32%.
PlayPass NV, www.playpass.be, is the leading festival solution company providing contactless solutions for cashless payments, accrediation, access management and brand activation. PlayPass NV is executing their internationalization strategy and managed to secure market entry into the UK market.
PlayPass equips the 2016 edition of the dance festival "Eastern Electric" at Hatfield House and has recently been nominated for Startup of the Year in Belgium.
SANDPIPER, a Swiss based stock-listed technology holding, focuses on the consolidation of the fragmented payment landscape by pursuing a "buy & build" strategy in the area of cashless payment systems for sports & events as well as for education and retail markets. The festival and event market is one of Sandpiper's growth segments.
The Management Board of SANDPIPER, with the approval of the Company's Board of Directors, resolved on the offer of senior, unsecured bonds with an amount of up to CHF 3 million (the "Offering"). The Bonds will be issued at 100% of their principal amount. Bondholders may elect to convert their Bonds for Shares (Loan Agreement with Conversion Option). The Bonds will have a maturity of two years and will carry a coupon of 4.00% per annum.
Use of proceeds: SANDPIPER intends to use the proceeds to continue investing in its platform and generally increase SANDPIPER's flexibility to decisively seize promising market opportunitie and for general corporate purposes.
SANDPIPER Digital Payments AG, www.sandpiper.ch, is a stock-listed technology holding based in St. Gallen, Switzerland. The company is focused on the consolidation of the fragmented payment landscape in Europe by pursuing a "buy & build" strategy in the area of digital cashless payments and access control.
SANDPIPER is already today one of the largest providers of closed-loop payment systems in Europe. SANDPIPER solutions provide safe and intuitive payment technologies based on RFID/NFC and mobile applications for markets such as Retail, Education, Stadium, and Events.
Volker Rofalski, Tel: +41-44-783 80 30; Fax: +41-44-783 80 40, Internet: www.sandpiper.ch