Collas Crill recently advised SafeCharge International Group Limited ("SafeCharge") in its successful migration from the British Virgin Islands to Guernsey which completed on 30 October.
The company which was floated in April 2014 on AIM raising $125m, now regularly ranks in the FTSE AIM 100. It is currently capitalised at about £400 million.
SafeCharge is an international provider of payments services, technologies and risk management solutions, providing its services to a number of online and mobile businesses. The SafeCharge group which has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland, has a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals.
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 London Stock Exchange. The company also viewed Guernsey as well-positioned for it to make a potential move to the 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."
The team at Collas Crill was led by Sean Cheong, partner, assisted by Gareth Morgan, senior associate and Simon Heggs, associate in the commercial team of the firm.
Sean 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. We look forward to continuing to work closely with Tim and SafeCharge going forward."
