Stratech required to make exit offer for SGX delisting

Singapore

THE Singapore Exchange (SGX) has given notice that it will proceed to delist The Stratech Group, which is in liquidation, as the latter has failed to submit a proposal to resume trading of its shares despite being given more than three years to do so.

Under listing rules, the company or its controlling shareholders must thus provide a reasonable exit offer to shareholders, Stratech's court-appointed liquidators from BDO Advisory said late on Thursday night. The surveillance technology provider's controlling shareholders were the husband-and-wife team of David Chew and Leong Sook Ching.