tTech Limited Announces Share Acquisition
Press Release
tTech Limited Announces Share Acquisition
Kingston, Jamaica – July 11, 2024
FOR IMMEDIATE RELEASE
The Directors of tTech Limited announced that two (2) major shareholders, Edward “Teddy” Alexander and G. Christopher Reckord, have sold 49.1% of tTech Limited’s issued shares. The acquiring entity, Simply Secure Limited, is owned by Kevin Gordon and Rob Mayo-Smith. Messrs. Gordon and Mayo-Smith are also the owners of Simply Secure LLC, a Managed Security Services Provider based in Ft. Lauderdale, Florida.
In light of the fact that the acquisition is beyond the 20% threshold of the issued and outstanding ordinary shares of the company, tTech has duly notified the Jamaica Stock Exchange and the Financial Services Commission pursuant to the applicable JSE Main Market Rules (Appendix 1) and the applicable Regulations promulgated under the Securities Act that relates to Takeovers and Mergers.
Following this acquisition, Simply Secure has indicated it is their intention to extend an offer to all remaining tTech shareholders to purchase their shares. This intended offer to the remaining shareholders will be contingent on the completion of additional due diligence, finalization of the terms of the offer, review by the tTech board and approval of the regulators. Simply Secure has committed to adhering to the takeover rules of the Jamaica Stock Exchange in making this offer.
The Directors of tTech anticipate that the synergies between tTech and Simply Secure will enhance the services provided by tTech, particularly in the area of Cybersecurity.
Edward Alexander, who continues as the Board Chair, stated, “I am confident that Simply Secure’s involvement will bring new resources and expertise to tTech Limited. Their focus on Managed Security Services aligns perfectly with our strategic goals, and I believe they will take the company to new heights.”
Kevin Gordon, the CEO of Simply Secure LLC stated, “Under this new partnership, we are committed to leveraging greater resources to meet the growing demand for Managed Security Services. The primary focus will remain the delivery of exceptional value to our customers and optimal growth opportunities for our employees. This transition will enhance our operational capabilities and drive our mission forward.”
About tTech Limited
tTech Limited is a leading IT services provider offering a wide range of services to help businesses manage their IT infrastructure efficiently and securely. Our mission is to deliver exceptional IT services and solutions that empower businesses to thrive in an ever-evolving digital landscape.
About Simply Secure LLC
Simply Secure LLC is a Managed Security Services Provider based in Ft. Lauderdale, Florida. The company specializes in providing comprehensive security solutions to protect businesses from cyber threats and ensure the safety and integrity of their IT environments.
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