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STRATECH SYSTEMS LIMITED ANNOUNCES NEW INVESTMENT TO SCALE GROWTH IN MULTI-BILLION DOLLAR HOMELAND SECURITY MARKET
Excited by the Group's technologies, a US institutional investor has agreed to fund the first phase of enabling the Company to go global by investing up to US$4.4 million into the company by subscribing for 46,790,373 shares at S$0.07275 per share (VWAP as at 15 November 2005 discounted by 3%) with 46,790,373 warrants with a strike price of S$0.09 per share (VWAP as at 15 November 2005 plus premium of 20%) in 2 tranches, the details of which are and subject to conditions as disclosed in the Group's SGXNet announcement today.
The use of funds would primarily be to focus on tapping on the US Homeland Security market as well as several related business opportunities in the Asia and Pacific plus working capital. Having spent many years in R&D, the Group is at the stage of monetizing its Intellectual Properties.
Said Executive Chairman and CEO David K.M. Chew "The recent announcements of our initial success and contract awards is only the beginning. With more ammunition, we are taking the next leap to focus on our globalization efforts by powering mega system integrators and defense contractors with our technologies."
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 (iV), 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