Petredec Pte. Ltd. (the “Company”) announces a change in its ownership structure.
Petredec Group Limited (“PGL”, formerly Haydock Holdings Limited) is a holding company incorporated and registered in the British Virgin Islands that owns 100% of the Company. PGL was in turn owned by three shareholders: [1] the Fearn family, [2] the National Shipping Company of Saudi Arabia (”Bahri”) and [3] Mr. Christopher Stedman.
The Fearn family and Bahri have jointly entered into an agreement with Mr. Stedman whereby their resultant holdings in PGL will be increased to 59.92% and 40.08%, respectively.
Petredec would like to express its sincere gratitude to Mr. Stedman for his immeasurable contribution to the Company’s success and development. We wish him all the best in his future endeavours.
