It was reproached due to listing breaches.
The natural resources firm is not take the Singapore Exchange (SGX) reprimand lightly as it has appointed a compliance adviser tasked to assist the company on its continuing listing obligations.
According to a statement by Abterra, the company’s nominating committee has also convened a meeting to consider the points raised by the SGX reprimand.
Abterra also said the breaches occurred in 2009 and 2010, and it has taken steps to safeguard the interests of shareholders, including a PwC review in relation to its 2010 Financial Statements.
“PwC completed its review and issued its report to the AC on 20 March 2013. The Company immediately took steps to adopt the various recommendations set out in the PwC report,” Abterra said.
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