Core Viewpoint - Asia Television Holdings (00707) announced the immediate suspension of Ms. Cha Mengling from her position as an executive director due to serious allegations raised by a shareholder regarding share placements and rights issues [1] Group 1: Allegations and Investigations - The allegations involve the company's completion of a placement of 218.5 million new shares on July 19, 2024, and the subscription of a total of 80.5 million shares by four named individual subscribers [1] - Additionally, the company conducted a 2-for-1 rights issue on August 23, 2024, with two named individual subscribers acquiring a total of 248 million shares [1] - The allegations claim that the subscribers of the placement and rights issue were not independent third parties [1] Group 2: Board Actions - In response to the severity of the allegations, the board has decided to establish an independent committee composed of all independent non-executive directors to investigate the claims [1] - Ms. Cha's duties as an executive director have been suspended, and she is prohibited from representing the company or acting in any capacity without explicit authorization from the board [1]