Santech Holdings (STEC) has released an update.
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Santech Holdings has announced board and management changes after its Chairman and CEO were detained for alleged illegal activities at Hywin Wealth Management, which is unrelated to the company. Lawrence Wai Lok has been appointed as the acting CEO to lead Santech’s strategic shift towards technology sectors like new retail and the metaverse. The company assures commitment to good governance practices and has engaged US counsel for legal advice on securities laws.
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