SGX RegCo issues compliance notice to Asti Holding over failure to convene AGM

The company has yet to convene its FY2021 and FY2022 meeting.

Asti Holdings has received a notice of compliance from SGX RegCo for breach of the requirement to convene an annual general meeting (AGM).

According to the regulator, the company has yet to convene its AGM for FY21.

The company had earlier applied for an extension to hold its FY21 AGM on 7 September; however, it failed to conduct the meeting on the said date.

Asti Holdings has not conducted its AGM for FY22 and has not applied for an extension to convene the meeting.

SGX RegCo has required the company to remedy the breach and convene its FY2021 AGM and FY2022 AGM by 31 July.

“The AGMs are to be minimally held at a physical palace in Singapore. This will enable the board to address questions from shareholders at the physical meeting prior to shareholders casting their votes on a resolution to be made at the AGMs,” SGX RegCo said.