Teddy Sagi increases SafeCharge stake, buying shares from CEO David Avgi


Teddy Sagi Playtech

Globe Invest, the family office of online entrepreneur Teddy Sagi, has announced that Northenstar Investments Ltd has increased its shareholding in online payments solutions company SafeCharge International Group Ltd (LON:SCH) by acquiring an additional 3,995,185 shares in the AIM listed entity.

Northenstar’s shareholding in SafeCharge has risen to 68.34% following the new transaction. Northenstar is an Isle of Man investment company wholly owned by Teddy Sagi.

The strike price of the deal was 325 pence and the total value of the shares purchased £13 million.

The co-sellers are a company related to David Avgi, the co-founder and CEO of SafeCharge, and Mr. Avgi himself, both of which will be assigning option vested shares. This is apparently 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 stated,

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 commented,

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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Teddy Sagi increases SafeCharge stake, buying shares from CEO David Avgi

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