ASTI Publishes Shareholder Concerns Over ASA’s Voluntary Offer and Valuation
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ASTI Holdings Limited has announced that a shareholder has raised concerns regarding Advanced Systems Automation Limited's (ASA) voluntary offer for ASTI's shares. The shareholder questions the attractiveness of ASA's offer, which values ASTI shares at S$0.01 through a non-cash share swap, and seeks clarification on ASA's outstanding debt to ASTI and its financial track record. The board has shared these concerns with all shareholders, highlighting potential issues related to valuation, debt recovery, and counterparty risk that may affect investor perceptions of the transaction.
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