|Announcement Title||Change - Announcement of Cessation|
|Date & Time of Broadcast||Oct 26, 2018 17:39|
|Announcement Sub Title||RETIREMENT OF INDEPENDENT DIRECTOR|
|Submitted By (Co./ Ind. Name)||Victor Lim|
|Designation||Executive Chairman, CEO and Group Managing Director|
|Description (Please provide a detailed description of the event in the box below)||Please see attached.
The announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ( "Sponsor" ), RHT Capital Pte. Ltd. for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ( "Exchange" ). The Company's Sponsor has not independently verified the contents of the announcement including the correctness of any of the figures used, statements or opinions made.
The announcement has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of the announcement including the correctness of any of the statements or opinions made or reports contained in the Announcement.
The contact person for the Sponsor is
Name: Mr Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place #29-01, Republic Plaza Tower 1, Singapore 048619
Telephone number: +65 6381 6757
|Name Of Person||Teo Kio Choon @ Chang Chiaw Choon|
|Is effective date of cessation known?||Yes|
|If yes, please provide the date||26/10/2018|
|Detailed Reason (s) for cessation||Mr Teo Kio Choon @ Chang Chiaw Choon was appointed as a Non-Executive Director with effect from 20 August 1999 and was subsequently re-designated as an Independent Director.
Mr Teo Kio Choon @ Chang Chiaw Choon retired as Independent Director at the conclusion of the Annual General Meeting held on 26 October 2018 pursuant to Article 89 of the Company's Constitution. Accordingly, Mr Teo Kio Choon @ Chang Chiaw Choon ceased to be a member of the Audit Committee of the Company with effect from 26 October 2018.
Based on its enquiries, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Teo Kio Choon @ Chang Chiaw Choon as the Independent Director of the Company.
|Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?||No|
|Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?||No|
|Any other relevant information to be provided to shareholders of the listed issuer?||No|
|Date of Appointment to current position||20/08/1999|
|Does the AC have a minimum of 3 members (taking into account this cessation)?||Yes|
|Number of Independent Directors currently resident in Singapore (taking into account this cessation)||3|
|Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months||0|
|Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)||Independent director and a member of the Audit Committee|
|Role and responsibilities||Roles and responsibilities of an Independent director and member of Audit Committee.|
|Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries||None|
|Shareholding interest in the listed issuer and its subsidiaries?||Yes|
|Shareholding Details||3,500,000 ordinary shares of the Company|
|Past (for the last 5 years)||None|