Change - Announcement of Cessation::Cessation as Director and Chairman of the Company
Issuer & Securities
ASTI HOLDINGS LIMITED
ASTI HOLDINGS LIMITED - SG1G77872271 - 575
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation as Director and Chairman of the Company
Submitted By (Co./ Ind. Name)
Anthony Loh Sin Hock
Director & Acting 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 Dato' Michael Loh Soon Gnee has decided to resign as Director and Chairman due to personal reasons.
Name Of Person
Dato' Michael Loh Soon Gnee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Dato' Michael Loh Soon Gnee has indicated that he is retiring from his position as Director and Chairman of the Company in order to reduce his work load and travel commitments due to his age and family commitments.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-executive Director and Non-executive Chairman
Role and responsibilities
Dato' Michael Loh Soon Gnee's role and responsibilities include:
- Providing input on broad strategic directions for the Company;
- Managing the daily running of the business;
- Leading the Board to ensure its effectiveness on all aspects of its role;
- Ensuring an accurate, timely and clear flow of information to the Directors, promoting a culture of openness and debate at the Board;
- Ensuring effective communication with shareholders, encouraging constructive relations between the Board and Management; and
- Facilitating the effective contribution of the Independent Directors and promoting high standards of corporate governance
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
130,209,600 ordinary shares
Past (for the last 5 years)
Dragon Group International Limited
Advanced Systems Automation Limited
Prosem Technology Sdn. Bhd.
Flexcomm Limited (Subsidiary of Axesstel)
ASTI (USA) Inc.
Semiconductor Technologies & Instruments Pte Ltd
Technollis Sdn Bhd
Dragon Venture Capital Corporation
Telford Industries Pte Ltd
Dragon Venture Limited
Nanjing Dragon Treasure Boat Development Co., Ltd
Jiangsu Longjiang Ship Building Co., Ltd.
Procross Technology Sdn. Bhd.
O2IC Co., Ltd., Korea
Dragon Technology Asia Pacific Group Corp.
Dragon Asia Pacific Group Corporation