“Pete Bodharamik” Tenders Resignations from JAS and MONO as Good Governance Principles

Jasmine International Public Company Limited (JAS) and Mono Technology Public Company Limited (MONO) has made a statement to clarify about the news release issued via the website of the Office of the Securities and Exchange Commission (SEC) on 16 September 2019 with respect to the civil sanction imposed against relevant persons on the incident of Jasmine Telecom Systems Public Company Limited (JTS) which include Mr. Pete Bodharamik, director and Chief Executive Officer of JAS and a chairman of MONO.

The news also state that as a result of the civil sanction, Mr. Pete will be deemed to lack the trustworthiness characteristic and shall be disqualified to hold any executive and director positions of a listed company, of which to be processed by the SEC for the next step.

At present, JAS and MONO have not received any letter from the SEC on the vacating of Mr. Pete Bodharamik from the position of director and executive, but have received a resignation letter of Mr. Pete Bodharamik stating that he has not yet received details on this matter from the SEC but, in view of the good corporate governance principles, he tendered his resignation from the aforesaid positions effective from 17 September 2019. In this regard, JAS and MONO will hold the Board of Directors’ Meeting on an urgent basis to consider the appointment of the vacant positions of Mr. Pete Bodharamik.

JAS and MONO believe that such matter will not render any negative effect against the financial status and operating results and their subsidiaries as well as the implementation of its business plan.