|NEWS & EVENTS >|
PARTIES REACH AMICABLE SETTLEMENT
SINGAPORE, February 28, 2005— With respect to legal proceedings pending in the United States between the Company and its former Director Christopher A. Millar and the Company's claim against Mr. Millar in Singapore, the Company is pleased to announce that the parties have settled all matters between them amicably on 21 February 2005 and accordingly have applied to dismiss their respective claims in the United States and to discontinue the Company's claim against Mr. Millar in Singapore.
About Stratech Systems Limited
Stratech Systems Limited ("Stratech") is an emerging world-class Advanced Technology and e-Systems developer. Stratech delivers large-scale real-time mission critical systems for Governments and Businesses in the Homeland Security / Defense, Transportation and e-Business / e-Government markets. Stratech brings together world-class expertise, software, intellectual assets and unique technology capabilities in the areas of Computer / Intelligent Vision, intelligent Transport Systems (iTS) and e-Systems to enable her customers to meet existing and future operational challenges, gain significant strategic advantage and seize new business opportunities. Stratech focuses on providing products and solutions to real-world challenges where traditional IT technologies are inadequate. Stratech's "Connected Reality" solutions exploit state-of-the-art Info-Comm Technologies that connect the Net and the real-world more effectively and transparently, thereby enabling customers to leverage on the power of the Net to solve difficult real-world challenges.
Formed in 1989, Stratech has established an impressive track recording serving customers in industries such as Government, Homeland Security, Defense, Transportation (land, air and sea), Aerospace, Healthcare and Financial Services. Stratech is recognised as a leader in innovation and technology, is extremely entrepreneurial, developing and implementing advanced technology solutions that achieve significant business transformation and competitive advantage for its customers.
Listed on the Main Board of the Singapore Exchange, Stratech is headquartered in Singapore and targets markets in Asia, the Middle East, Australia, Europe, North and South America.
For more information, please contact:
Corporate Communications Division
Tel: +65 6799 6650
Fax: +65 6323 2177