Press Statement on ASTI Meeting

Date: August 18, 2023

ASTI Holdings will be delisted as it has failed to meet the regulatory requirements for exiting the watch list since 6 June 2019. The trading has been suspended since July 2022. There has been much concern among the minority shareholders as to whether in fact there is an offer on the table mentioned by the current ASTI board, or if they should elect a new board of directors to secure an exit offer.

SIAS recently organised a dialogue session with ASTI shareholders and the proposed new board of directors on 16th August 2023 to discuss the resolutions to be tabled at the upcoming EGM. Shareholders who did not attend the dialogue session held on 16th August can watch the recording by clicking here. Shareholders of ASTI should attend the EGM on 22nd August 2023, 10am at Meeting Room, 9 Straits View Level 3, Marina One West Tower, Singapore 018937, as they should take the opportunity to discuss issues affecting them. In our view, the issue of legality of the EGM is for a Court to decide and not for the Company.

SIAS will also be organising a dialogue session with ASTI board and management on 21st August 2023, 7pm at SBF Center Level 6, 160 Robinson Road, Singapore 068914. All shareholders are invited and encouraged to raise your concerns on the latest developments and FY21 results. ASTI AGM for FY21 will be held on 31st August 2023, 2pm at Lifelong Learning Institute, Event Hall 2-1 (Level 2), 11 Eunos Road 8, Singapore 408601.

SIAS would, therefore, urge all shareholders of ASTI Holdings Ltd to attend both the EGM on 22nd August 2023 and the AGM on 31st August 2023 to vote on the resolutions as it is your right as a shareholder to attend the meeting, ask questions and vote.

Presentation Slides – Dialogue Session with ASTI Shareholders


David Gerald
Founder, President and CEO