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Shareholders to be allotted new shares of Stratech Group
STRATECH Systems Limited said that following the scheme of arrangement that became effective on April 1, shareholders will be accredited new shares in the share capital of Stratech Group Limited before 9am on Monday.
The shares of Stratech Group will commence trading on the mainboard of the Singapore Exchange. The old shares of Stratech Systems will be delisted and Stratech Systems will be an indirect wholly-owned subsidiary of Stratech Group.
Under the scheme of arrangement, Stratech Group will allot and issue to the shareholders new shares in the group on the basis of one new share in the group for every one share held in Stratech Systems.
The proposed restructuring, by having Stratech Group as the investment holding company and listed entity, ring-fences the listed entity from the operating entities and direct operating risks, Stratech Systems said in its circular issued to shareholders earlier.
After completion of the restructuring, there will be no substantive change to the corporate structure or business of Stratech Group.