Duo to maintain 34% stake after private equity takeover of Stratech

Singapore

THE CURRENT husband-and-wife team that controls The Stratech Group will convert more of the company's debt owed to them into equity than previously announced, the company said in a filing on the Singapore Exchange (SGX) on Thursday evening.

The higher debt conversion amount will allow executive chairman David Chew and executive director and chief corporate officer Leong Sook Ching to retain their 34 per cent shareholding even after a proposed US$20 million placement by private equity firm Boulevard Capital Partners.