Tech company Xer Tech Holding announces that the company’s second-largest shareholder, Monarch Marine Holding, is streamlining its operations toward shipping and therefore is distributing its entire holding in Xer Tech to its shareholders. The distribution covers approximately 24.5 percent of the shares and votes in Xer Tech, after which Monarch will no longer be a shareholder in the company.The largest recipients will be Cresta Group, which will receive approximately 11.2 percent of the shares, and Riton Holding, which will receive approximately 6.3 percent. All new shareholders, three in total, assume Monarch’s lock-up commitment from the reverse acquisition.The transaction is conditional upon approval from the Swedish Inspectorate of Strategic Products under the Foreign Direct Investment Act.