6pm holds 70 per cent stake in Softweb

6pm Holdings plc, the Naxxar-based IT solutions company, has become the majority shareholder in software company Softweb, after being allotted 14,000 shares earlier this month. Softweb is a leading player in the local ICT industry providing software...

6pm Holdings plc, the Naxxar-based IT solutions company, has become the majority shareholder in software company Softweb, after being allotted 14,000 shares earlier this month.

Softweb is a leading player in the local ICT industry providing software solutions in accounting, insurance, shipping, human resources, payroll and point of sale.

6pm now holds 70 per cent of the issued share capital of Softweb.

“The total consideration for the shares is the capitalisation of a balance amounting to €105,000 due by Softweb to 6pm,” a company announcement said on Tuesday.

6pm has nominated its chief executive officer Ivan Bartolo, Stephen Chetcuti and Peter Bugeja on Softweb’s board.

As of December 6, Softweb’s address has changed to 6pm House, 181, 21st September Avenue, Naxxar, 6pm’s headquarters.

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