Change - Announcement of Cessation::RESIGNATION OF CHIEF FINANCIAL OFFICER

Issuer & Securities

Issuer/ Manager
ASTI HOLDINGS LIMITED
Securities
ASTI HOLDINGS LIMITED - SG1G77872271 - 575
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Apr-2024 17:16:28
Status
New
Announcement Sub Title
RESIGNATION OF CHIEF FINANCIAL OFFICER
Announcement Reference
SG240415OTHR93W9
Submitted By (Co./ Ind. Name)
NG YEW NAM
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
The board of Directors of the Company wishes to announce that Mr. Anthony Loh Sin Hock has resigned with immediate effect his position as Chief Financial Officer of the Company.

Additional Details

Name Of Person
Anthony Loh Sin Hock
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
09/04/2024
Detailed Reason (s) for cessation
Mr. Loh had purported to terminate his employment with the Company with immediate effect on 09 April 2024, 6 days ahead of his impending cessation date of 15 April 2024 (which follows from his tendering of resignation on 16 January 2024). Apart from this, as there remains outstanding matters between the Company and Mr. Loh, the Company is presently seeking professional advice. The Company intends to make further announcement(s) in due course setting out the circumstances of the cessation and the outstanding matters between the Company and Mr. Loh.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Yes
If Yes, Please provide full details
The unresolved differences in opinion pertain to the Company's review of the corporate and business dealings and transactions of the ASTI Group (as set out in the Company's previous announcement dated 24 January 2024), which review is ongoing. The Company endeavours to update shareholders of any material developments in due course.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
There is an ongoing review of the corporate and business dealings and transactions of the ASTI Group (as set out in the Company's previous announcement dated 24 January 2024). Issues may arise from the review that may have a connection with the cessation. The Company endeavours to update shareholders of any material developments in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/12/2021
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Mr. Anthony Loh was responsible for overseeing the financial and management accounting, compliance and taxation matters of the group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
ASTI (USA) Inc.
Dragon Microfits Sdn Bhd
Microview Technologies Sdn Bhd
Emerald Precision Engineering Sdn Bhd
Yumei Technologies Sdn Bhd
Yumei Reit Sdn Bhd
Telford Services (Melaka) Sdn Bhd
Telford Services Sdn Bhd
Reel Service Limited
Dragon Rises Limited
Telford Holding (HK) Limited
ASTI (HK) Ltd
Telford Industries Pte Ltd
ASTI Holdings Limited
Asia Phoenix Angels Pte Ltd
Dragon D'illum Technologies Pte Ltd
SCM Solutions Pte Ltd
Sooner Technology Pte Ltd
Spire Technologies Pte Ltd
Present
NA