Quarz pares stake in Sunningdale ahead of EGM; eyes opportunities with 'higher upside potential'

Singapore

ACTIVIST investor Quarz Capital Management has reduced its stake in Sunningdale Tech just about a week before the scheduled extraordinary general meeting (EGM) convened for investors to vote on the private equity buyout of the precision plastic components maker.

On Feb 9, Quarz sold some 69,000 Sunningdale shares for a total of S$112,470, which works out to be S$1.63 per share. With this, Quarz now owns 7.987 per cent of the company's total voting shares, down from 8.023 per cent previously.