Dubai, August 8th, 2018—Fast Telecom General Trading LLC, a Dubai Telecom Company, today announced the intention to complete a Merger with the Prosalutis Holdings. Planned name change of Prosalutis Holdings will be announced at later date.
The merger will be complete after appropriate approvals are completed.
About Fast Telecom
Fast Telecom General Trading LLC “Fast Telecom” was founded in 2002 by some of the most experienced brains in the telecom sector, bringing more than 60 years of collective management experience and a vision to become market leaders in mobile devices business across MENA Middle East& North Africa. Fast Telecom has developed extremely efficient operating processes and a logistics system that has helped it command a market leader position in the distribution of mobile and tablets across its markets.
Today, Fast Telecom group stands strong and proud of its humble achievements in past decade. We tripled our business size. Fast Telecom through its affiliate commands major share of the UAE & KSA markets with a good presence in entire MENA & GCC region.
Fast Telecom group owes its success to its valued clientele and customers and believes in extending all-out support for them round-the-clock. We work around our customer’s strengths and weaknesses as true partners. Audited since 2003 by Ernst and Young, the solid financial support and strict monitoring of cash flow played a key role in the growth of Fast Telecom’s operations. Utilizing their inherent 60 years of combined experience, the Partners have developed Fast Telecom as the best choice for both dealers and end users in the mobile devices market. Our ethics of disciplined work, passion for customer satisfaction, and unique management skills have elevated the Company to its current leading position.
Fast Telecom is one of the leading mobile phones distributors in the region and has a presence in 9 countries on 2 continents. We are based in Dubai, UAE, with Branch offices in Miami (USA), Germany, KSA, Egypt, Tunisia and Iraq.
Today, Fast Telecom continues to grow from strength to strength with its commitment to continuous innovation in the way we do business.
Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.