Brief: Asti Says Requisitioners' Call For Board Overhaul Could Disrupt Operations

ASTI Holdings

27/04/2023 02:44

April 27 (Reuters) - ASTI Holdings  ATIH.SI :
    * REQUISITIONERS' CALL FOR BOARD OVERHAUL COULD DISRUPT
OPERATIONS
AFTER RECENT FINANCIAL TURNAROUND
    * ANY ATTEMPT TO OVERHAUL COMPOSITION OF ITS CURRENT BOARD
OF
DIRECTORS WOULD POTENTIALLY DISRUPT OPERATIONS AND FINANCIAL
PERFORMANCE
    * DIRECTORS RESPONDING TO CIRCULAR RELEASED BY FOUR
SHAREHOLDERS
REQUISITIONED TO REPLACE CURRENT BOARD WITH NEW DIRECTORS
    * DIRECTORS CONSIDER SEVERAL STATEMENTS IN CIRCULAR TO BE
"WRONG
OR MISLEADING OR GIVE AN INCOMPLETE PICTURE"
    * CO AGAINST OVERHAUL OF MANAGEMENT TEAM AND REMOVAL OF
ACTING CEO
ANTHONY LOH
    * IS CURRENTLY IN DISCUSSIONS WITH THAILAND- LISTED CAPITAL
ENGINEERING NETWORK PUBLIC COMPANY LIMITED ON A POTENTIAL EXIT
OFFER
    * PROPOSED RESOLUTIONS WOULD ALSO BE COUNTER-PRODUCTIVE TO
BOARD'S
EFFORTS TO SECURE AN EXIT OFFER IN NEAR FUTURE

Source text for Eikon:  ID:nSN2Xsywm 
Further company coverage:  ATIH.SI 

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