Astika Holdings Inc (OTC:AKSH) Stock Gains After Reversion To Previous Board of Directors

It was a momentous day for Astika Holdings Inc (OTC:AKSH) on December 21 as the company announced that it had reinstated its four former members of the board who had been leading the operations over the past several years.

The company made this move after it had affected a brief expansion of its board of directors on October 24, 2023. However, yesterday the company reverted to its previous three member board in a period of less than two months. The reversion to the four member board went into effect on December 18, 2023. It is going to be interesting to see how investors react to the announcement made by Astika Holdings.

Funan Deng, the General Manager and Chairman of the company, spoke about the development on Thursday. He noted that over the past several years Astika Holdings had been served well by the four members of the board and noted that he was pleased at the fact that the company would have their service from now on.

However, Deng also stated that the person who had been added to the expanded board were all competent advisors and employees, who would continue to be valued members of Astika Holdings. However, they would not be members of the company’s board. He stated that it had been decided that the previous board, comprising of a four member team, was the best way in which Astika Holdings could continue to grow its operations.

In the news release, the company revealed that the four members of the board who had been reinstated to the position were Funan Deng, Mark W Richards, Jian Xu and Ralph T Willmott. Astika Holdings is the parent company of the Chinese home good retailer JSZY. The management is currently working on ways to further grow Astika Holdings through acquisitions in industries like industrial, service and textile.