Advanced Systems Automation Limited Terminates Pre-Conditional Voluntary Offer for ASTI Holdings

Key Highlights

• Advanced Systems Automation Limited (“ASA” or “the Company”) has terminated its pre-conditional voluntary offer (“VGO”) to acquire all shares in ASTI Holdings Limited.
• The decision was made after significant delays in the preliminary processes and major corporate actions undertaken by ASTI Holdings Limited, as well as careful consideration of prevailing market conditions and regulatory requirements.
• The Securities Investors Association (Singapore) (“SIAS”) has raised queries regarding the VGO, to which ASA has committed to respond if deemed necessary.
• The termination of the VGO is not expected to have any material impact on the earnings per share or net tangible assets per share of ASA or its group for the financial year ending 31 December 2026.
• The Company assures investors that this development does not affect ongoing operations or strategic initiatives.
• ASA remains committed to protecting shareholder value and continues to seek opportunities aligned with its long-term objectives.

Detailed Report

Advanced Systems Automation Limited, a Singapore-based company, announced the termination of its previously proposed pre-conditional voluntary offer (VGO) to acquire all issued and paid-up ordinary shares of ASTI Holdings Limited. The initial announcement of the VGO was made on 14 January 2026.

According to the Board, the main reasons for terminating the offer include significant delays in the preliminary processes associated with the VGO and the related application, as well as substantial corporate actions taken by ASTI Holdings Limited since the initial announcement. The Board highlighted that after a thorough assessment of the current market environment, regulatory requirements, and especially the interests of the Company’s shareholders, it was no longer in the Company’s best interests to proceed with the acquisition.

Importantly, ASA has received an open letter from SIAS, raising queries about the VGO and its related application. While the offer has now been terminated, the Board has stated it will review these queries and respond in due course if it deems it necessary. This engagement with SIAS demonstrates the Company’s commitment to transparency and shareholder communication.

Investors should note that the termination of the VGO is not expected to have any material impact on the Company’s earnings per share or net tangible assets per share for the financial year ending 31 December 2026. The Group’s ongoing operations and strategic initiatives are also unaffected by this decision.

In light of these developments, the Board has reiterated its commitment to safeguarding shareholder value and will continue to evaluate opportunities that are consistent with the Company’s long-term strategic goals. Shareholders are advised to keep abreast of further announcements from the Company regarding any material developments.

Implications for Shareholders

• The termination of the VGO removes a potential catalyst for a significant change in the Company’s business direction and market value. Shareholders expecting a major corporate transaction or value-creating event from this offer should recalibrate their expectations accordingly.
• No material financial impact is expected for the year ending 2026, indicating a stable outlook in the short term despite the withdrawal of the offer.
• The Company continues to pursue its current strategy and remains open to new opportunities, which could present new catalysts in the future.
• The Board’s responsiveness to SIAS queries indicates a commitment to governance and shareholder engagement, which may be viewed positively by the market.

Shareholders and investors are encouraged to monitor the Company’s official channels for any further updates that may affect their investment decisions.

Disclaimer

This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult their financial advisor prior to making any investment decisions. The information provided is based on public disclosures as of 19 February 2026.

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