Rektron Announces Sale of Subsidiary Inland Shipping and Supply Ltd.

Rektron Group Inc., a global commodities trading house, signed an agreement to sell its subsidiary, Inland Shipping and Supply Ltd. (ISS), to DLH Istros Limited. The deal, valued at $36.5 million, will improve Rektron's liquidity and eliminate the carrying costs of ISS, inactive since COVID-19. The transaction involves an initial $5 million payment by mid-November, followed by a vendor loan of $31.5 million at 8% interest, due March 2025. A penalty applies if terms are not met.

Additionally, Michael Stier resigned from the board. Rektron is seeking a replacement. These moves align with Rektron's strategy to focus on its core trading activities and maintain shareholder value.