ShareJunction - Stock Forum Messages

ASTI Last:0.127

-0.005

1Q 2015 PROFIT from loss in 1Q 2014....RALLY TODAY

Another may be good news.

https://links.sgx.com/FileOpen/ASTI_EoCell_Memorandum%20of%20Understanding.ashx?App=Announcement& FileID=720418

This company is rotten inside out. Beware!

DuoLuckDuo ( Date: 09-Jun-2022 09:52) Posted:

Bought 100 lots at 13, queuing another 100 at 12.
Really a 50/50 bet on chances... could go very well or very badly... probably outcome will surface in a fortnight.
Cross fingers and toes 😅

Asti associate EoCell in talks for potential SPAC combination

LITHIUM-ION battery manufacturer EoCell, an associate of Asti Holdings : 575 -7.14%, has entered into a non-binding letter of intent with an unnamed publicly-traded special-purpose acquisition corporation (SPAC) for a potential combination.

If a definitive agreement is reached after negotiations, and the business combination is completed, it is expected that the SPAC will acquire EoCell by reverse triangular merger, or by a similar structure mutually agreed by the parties the shareholders of EoCell will become shareholders of the SPAC, said Asti, a watch-listed semiconductor manufacturing services company, in an exchange filing on Wednesday (Jun 8).

&ldquo Shareholders and potential investors should note that there is no assurance that a definitive agreement will be entered into, or that the transaction will be completed if a definitive agreement is entered into,&rdquo the company said.

Asti, which has an indirect interest in EoCell, will accordingly have an indirect interest in the SPAC, if the transaction is completed.

None of Asti&rsquo s directors, substantial shareholders and/or any of their respective associates, other than EoCell, has any direct or indirect interest, other than through their shareholdings in the company, in the transaction.

Asti said it will announce further details regarding the transaction, including the identity of the SPAC, as permitted by the parties. It will also make a further announcement if a definitive agreement is not entered into.

Asti said on Monday that it will be delisted from the Singapore bourse for failing to meet the requirements to exit the watch list. It has on the watch list since Jun 6, 2019.

Nippecraft has similar situation in year 2017, after transfer from Mainboard to Catalist, delisting issue settle.

ComeHuat ( Date: 08-Jun-2022 23:16) Posted:

ASTI can transfer to Catalist to prevent delisting.

Now at 13 😅 😅

DuoLuckDuo ( Date: 09-Jun-2022 08:44) Posted:

Reaction to it seems mild. Starting queue at 14 only

ComeHuat ( Date: 08-Jun-2022 23:21) Posted:

Maybe good news https://links.sgx.com/1.0.0/corporate-announcements/S9X5QL2T54W3RIHW/99755bcace1d63a49fbfde3135f8a5740444c387cc0e614c109a2b0e7b900223

Reaction to it seems mild. Starting queue at 14 only

ComeHuat ( Date: 08-Jun-2022 23:21) Posted:

Maybe good news https://links.sgx.com/1.0.0/corporate-announcements/S9X5QL2T54W3RIHW/99755bcace1d63a49fbfde3135f8a5740444c387cc0e614c109a2b0e7b900223

ASTI can transfer to Catalist to prevent delisting.

If ASTI has so much cash, why does SGX think they have a problem? Don' t extend the deadline? We will have to wait for their latest financial report to come out.

👍 agree...Worth more!!!!

ComeHuat ( Date: 07-Jun-2022 09:46) Posted:

We can see the company has cash on hand around S$23mil, and book vaule is S$0.10. If exit offer is $0.05, cash needed is $9.7mil (654,731,486 Shares X $0.05 = $32.7mil less $23mil cash on hand), and 5 main shareholders (Loh Soon Gnee (19.89%), Soh Pock Kheng (13.27%), Heah Theare Haw (6.34%), Ng Yew Nam (5.05%), Unknow (4.40%)) each buy and $2mil, it' s a good deal.

Correct me if i am wrong.

Asti Holdings to be delisted

WATCH-LISTED semiconductor manufacturing services company Asti Holdings : 575 +5.88% will be delisted from the Singapore bourse as it has failed to meet requirements for exiting the watch list, the company said in a bourse filing on Monday (Jun 6).

Asti has been placed on the watch list since Jun 6, 2019.

SGX&rsquo s financial exit criteria indicate that a firm may be removed from the watch list if it records consolidated pre-tax profit for the most recently completed financial year, and posts an average daily market capitalisation of at least S$40 million over the last 6 months.

Asti, however, logged pre-tax losses of S$16.4 million for FY2021, based on unaudited financial statements. It recorded S$252,000 in pre-tax losses for the financial year ended Dec 31, 2020.

The company&rsquo s average market capitalisation over the 6 months ended Apr 29, 2022 is approximately S$18.2 million.

As such, the company&rsquo s securities will continue to be traded until 5.16 pm on Jul 4, and trading will remain suspended from Jul 5, until the completion of its exit offer to shareholders.

7. The Company is required to inform the SGX-ST the terms of the exit offer proposal as soon as practicable and no later than one month from the date of the Delisting Notification, and also to provide an update of the status of the exit offer proposal on the SGXNET.

8. Therefore, in accordance with the Delisting Notification, the Company&rsquo s securities will be delisted.

9. The Company&rsquo s securities will continue being traded until 5.16 p.m. 4 July 2022 and trading will remain suspended from 9 a.m., 5 July 2022 until completion of the exit offer.

10. The Company will keep Shareholders informed of any developments in this regard and will continue to keep Shareholders updated on any material developments as and when appropriate.

ComeHuat ( Date: 07-Jun-2022 08:40) Posted:

Must check if the main shareholder has money to buy back the 60.5% of shares from public.

spursfan ( Date: 07-Jun-2022 06:24) Posted:

Not good news if you are holding this.

NOTIFICATION OF DELISTING
https://links.sgx.com/1.0.0/corporate-announcements/A19RIWZCRESTWUCD/720003_ASTI_Delisting%20Notice.pdf

Must check if the main shareholder has money to buy back the 60.5% of shares from public.

spursfan ( Date: 07-Jun-2022 06:24) Posted:

Not good news if you are holding this.

NOTIFICATION OF DELISTING
https://links.sgx.com/1.0.0/corporate-announcements/A19RIWZCRESTWUCD/720003_ASTI_Delisting%20Notice.pdf

In that case has to pump up the price to $0.062 to meet SGX $40mil requirements.

The board of directors (the ' Board' ) of the Company refers to the announcement dated
13 May 2022 and 24 May 2022 in relation to the Company' s application for an extension
of time to exit the watch-list pursuant to Rule 1315 of the Listing Manual of the SGX-ST
(the ' Extension' ).

The Board wishes to inform the shareholders that the SGX-ST has not approved the
Extension because the Company has not met any of the extension conditions described
in Paragraph 4.2 of Practice Note 13.2. The Company notably reported a pre-tax loss of
$16.4 million and a net loss net of $17.6 million for FY2021. As its market capitalisation
of $19 million is significantly below $40 million and the profit estimates provided by the
Company are considered to be speculative, the SGX-ST has therefore decided to not
approve the Extension.

Last year fj benjamin moved from mainboard to Catalist after failing to exit watch list. There are conditions to be met. No idea asti can meet those conditions.

hschsc ( Date: 28-May-2022 13:34) Posted:

Will ASTI to be delisted? or the company can move to Catalist ?

Joelton ( Date: 28-May-2022 11:54) Posted:

Asti seeks 2nd time extension for AGM due to difficulties finalising accounts

WATCH-LISTED semiconductor manufacturing services company Asti Holdings, which dismissed its chief executive officer in a retrenchment exercise last December, on Friday (May 27) applied for a second month&rsquo s extension to hold its annual general meeting (AGM).

In a bourse filing announcing this, it stated 6 reasons for having to post the application, half of which relate to its units&rsquo inability to finalise their accounts for the 2021 financial year on or prior to May 12.

The units are Advanced Systems Automation (ASA), which is an associate of the group and Asti subsidiaries Dragon Group International and Shanghai Jinglong Semiconductor Technology.

Thus, Asti said it could not finalise its financial statements for FY2021, and is unable to hold its AGM by May 31 &ndash the new deadline following Asti&rsquo s last application on Apr 1. Its latest application to the Singapore Exchange Securities Trading sought an extension to Jun 29.

Asti stated only 1 reason in its first application for a time extension, and it related to an impairment assessment that was not ready. The assessment was for its 40 per cent equity interest in EoCell for the purpose of financial reporting.

On Friday, Asti cited that as one of the reasons again, saying that its auditors are in the midst of reviewing the draft valuation results in relation to the impairment assessment and are targeting to complete the review by Jun 8.

As for the remaining 2 reasons, Asti said its auditors are reviewing the working papers of the auditors of DTB Limited and are in the process of clarifying some matters with DTB&rsquo s auditors.

The auditors have also requested the company&rsquo s management to review its assessment on the impairment on the right-of-use asset of Micro View Technologies, given that the premise is currently not in use. In addition, the auditors have requested for documentation on the reinstatement cost on the rented premise, Asti added.