On 28 September 2020 a news article entitled “"Low enrollment forces STI to close 12 schools"” posted in Manila Standard (Online Edition) in which it was reported that STI Education Services Group Inc. has approved the sale of 20-percent stake in Maestro Holdings Inc. (“Maestro”) to Carret Private Investments Limited (“CPIL”).
Whilst we do not usually comment on our activities, we are concerned that this article may create the incorrect perception that CPIL is or has purchased shares in Maestro as a principal investment. We therefore wish to clarify that in fact, CPIL has not and is not in the process of acquiring any stake in Maestro as principal.