THE Singapore Exchange has rejected respective requests from ASTI Holdings and Dragon Group International for further extensions to hold their fiscal 2018 annual general meetings , telling them to hold their AGMs"as soon as possible".Both companies had applied for the further extensions on June 14 to hold their AGMs by July 31, after a first extension to hold their AGMs by June 29 was approved.
On its further extension, DGI said its external auditor Ernst & Young still required more time to clear"certain outstanding matters" to ensure the electronics engineering firm’s financial accounts are accurately reported, hence it was unable to hold its AGM by June 29.
Similarly, ASTI said its management and external auditor EY required more time to clear"certain outstanding matters" to ensure financial accounts were accurately reported.because it had pre-tax losses for its three most recently completed consecutive financial years, and failed to maintain an average daily market cap of at least S$40 million over the last six months.resigning from his postASTI shares last traded flat at 2.7 Singapore cents on June 28.
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