Change - Announcement of Cessation::CESSATION AS NON-EXECUTIVE CHAIRMAN AND DIRECTOR

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
10-Jan-2024 23:04:33
Status
New
Announcement Sub Title
CESSATION AS NON-EXECUTIVE CHAIRMAN AND DIRECTOR
Announcement Reference
SG240110OTHRFOWR
Submitted By (Co./ Ind. Name)
ANTHONY LOH SIN HOCK
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
The board of directors of the Company would like to announce the resignation of the Company's Non-Executive Chairman and Director, Dr Kriengsak Chareonwongsak with effect from 8 January 2024.

Additional Details

Name Of Person
DR KRIENGSAK CHAREONWONGSAK
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
08/01/2024
Detailed Reason (s) for cessation
Dr Kriengsak Chareonwongsak has cited the uncertainty and divergence in the future direction of the Company which necessitated his decision to step down as Non-Executive Chairman and Director of the Company.
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?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
12/08/2011
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Chairman of the Board
Role and responsibilities
- 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
None.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
ASTI Holdings Limited
Success Media Co., Ltd.
Interprime Media Co., Ltd
Dunamis Trading Co., Ltd.
Success Technology Co., Ltd.
Success Capital Ltd.
Success Leather Co., Ltd.
Success Farm Co., Ltd.
Success Biotech Ltd.
Success Holdings Co., Ltd.
Present
NBI Holding International Company Limited
NBI Holding Co.,Ltd.
NBII Co.,Ltd
Capital Trust Group Limited
IPS Consultancy Co., Ltd.
Oxford Compass (formerly known as Can Do World Co., Ltd)
Can Do Holding Co., Ltd
Can Do Group Co., Ltd
Total Wellness
Krungthai-AXA Life Insurance Public Co., Limited
ASTI Holdings Limited
Asia Broadband Co., Ltd.
E-Business Co., Ltd.
Aeroponics (Thailand) Co., Ltd.
Success Information Systems Co., Ltd.
Success Publishing Co., Ltd.
Success Development Co., Ltd.
Success Broadcasting Network Co., Ltd.
Success Books Co., Ltd.
Success Aviation Co., Ltd.
Dunamis International Corporation