Simplisim Group Limited (11368609): administration
- Status
- Administration ended
- Administration began
- 2020-06-12
- Administrators
- Benjamin John Wiles, Allan Watson Graham
- Administrators' firm
- Kroll
- Incorporated
- 2018-05-17
- Location
- London
- Industry
- 99999 Dormant Company
Why it went into administration
- Brexit
- COVID-19
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
In December 2018, the Company was ; established as a joint venture between CIPTA and Pourquoi Pas
• Pte Ltd to acquire 49 percent share capital of PRFM, the main trading entity of the Group, and certain: assets of Oasis Group. The shareholding of the Company at completion consisted of Richard Samuel holding eight percent of the share capital, Pourquoi Pas Pte Ltd holding 46 percent and CIPTA 46 percent. The joint venture was funded by a cash flow loan of £1.23m provided by Thincats. ,
Oasis Group was established in 2010. Oasis Group delivers traditional SIM. manufacturing throughout Asia, Middle East and Europe, but also is a R&D operating system developments business which is progressing the introduction of E-SIMs. CIPTA is an Indonesian incorporated Company and a leading Smart Card manufacturer with production facilities in Indonesia. CIPTA was participating in the Company ’ with the intention to provide SIM card manufacturing services with favorable payment terms.
Administrators' statement of proposals (2020-06-25) · Companies House register