Ayondo chairman resigns, cites shift in company's focus

THOMAS Winkler has resigned as the non-executive chairman of Ayondo, citing the Catalist-listed company's shift away from Europe and towards Asia. 

Mr Winkler's departure is the latest in a string of resignations at the Catalist-listed firm this year, which is now in a negative equity position. In its latest quarterly results, the company reported a net asset value per share of minus 0.42 Swiss franc cent as at Sept 30.

In a bourse filing on Monday, Ayondo said the company is now less focused on Europe, following its disposal of its UK subsidiary, ayondo Markets, as well as the liquidation of its Swiss and German units. 

"Mr Winkler is of the view that the company's future businesses should be led by a resident of the Asian region with appropriate experience and knowledge to give strategic leadership," the company added in its filing. 

However, Mr Winkler has committed to remain as chairman and director of the unit Ayondo Holding AG, to cooperate with liquidators. He holds a 5.66 per cent stake in the company as of Monday.

Ayondo said that its board will discuss with an incoming investor on finding a replacement for Mr Winkler, after an extraordinary general meeting that is set to seek shareholders' approval for the issue of convertible notes. 

Shares of Ayondo have been suspended from trading since Feb 1.