Business Services Industry
Semi-Tech Announces Reduction of Shareholdings in Akai Holdings Limited
Business Wire, July 29, 1999
MARKAM, Ontario--(BUSINESS WIRE)--July 28, 1999--
Semi-Tech Corporation (TSE:SEM.A)(TSE:SEM.B)(OTC BB:SITGY)("Semi-Tech") announced today that it has initiated steps to reduce its shareholdings of Akai Holdings Limited, formerly known as Semi-Tech (Global) Company Limited, ("Akai Holdings"), through market sales. Semi-Tech intends to use the proceeds from the sales to invest in assets related to its business, in particular investment back into Akai Holdings.
Semi-Tech Corporation is a Canadian-based multinational company engaged in the global marketing and distribution of consumer products for the home, principally through its subsidiaries and affiliates. Semi-Tech's shares are listed on The Toronto Stock Exchange (Class A: SEM.A; Class B: SEM.B). Shares of Akai Holdings Limited are listed on The Stock Exchange of Hong Kong Limited under the symbol 448, and are traded on the over-the-counter market in the United States through a sponsored ADR program under the symbol SITGY.
Visit our website at: www.semi-tech.com
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