ASTI to hold FY2021 AGM on Feb 1

A fresh Notice of Meeting will be issued with at least seven days’ notice for the adjourned FY2021.

ASTI Holdings will hold its annual general meeting (AGM) for the FY2021 ended Dec 31, 2021, on Feb 1.

A fresh Notice of Meeting will be issued with at least seven days’ notice for the adjourned FY2021.

For the FY2021, ASTI made a loss of $7.3 million, down from the earnings of $2.1 million in the year before.

The group had conducted a retrenchment exercise and downsized its office in 2021. As at Dec 31, 2021, the company accumulated losses of $117.6 million.

The Singapore Exchange S68 Regulation (SGX RegCo) had issued a notice of compliance to ASTI in April 2023 after the latter had breached the exchange’s Mainboard rules when it came to holding its AGM. An AGM is supposed to be held within four months from the end of a company’s financial year.

ASTI last held an AGM on May 31, 2021 for the FY2020 ended Dec 31, 2020.

The company sacked its former CEO, Michael Loh, in December 2021 in a bid to remain afloat and to exit the SGX watch-list.

Shares in ASTI Holdings 575 last traded at 1.4 cents before its trading suspension in July 2022.

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