| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 13, 2024 19:52 |
| Status | New |
| Announcement Sub Title | Retirement of Lead Independent Director |
| Announcement Reference | SG241013OTHRY71S |
| Submitted By (Co./ Ind. Name) | Ng Chee Wee |
| Designation | Executive Director and CFO |
| Description (Please provide a detailed description of the event in the box below) | Please see attached. This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the sponsor is Mr. Leong Weng Tuck at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com. |
| Additional Details | |
| Name Of Person | Chue Wai Tat |
| Age | 77 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/10/2024 |
| Detailed Reason (s) for cessation | Mr. Chue Wai Tat ("Mr. Chue") was appointed as an Independent Director of the Company on 6 July 2011 and subsequently appointed as the Lead Independent Director on 24 October 2012. He has served as an Independent Director of the Company for an aggregate period of more than 9 years. In view of the new requirement that impose a tenure limit for Independent Director and the need for Board renewal, Mr. Chue has expressed his intention not to seek re-election and will retire as the Lead Independent Director of the Company pursuant to Article 94 of the Company's Constitution at the conclusion of the annual general meeting to be held on 30 October 2024. Following his retirement from the Board, Mr. Chue will cease to be members of the Audit Committee ("AC"), the Nominating Committee ("NC") and the Remuneration Committee ("RC"). The Board would like to express its gratitude to Mr. Chue for his invaluable contributions and guidance to the Board during his tenure. 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 retirement of Mr. Chue. |
| 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 | 06/07/2011 |
| 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) | 4 |
| 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.) | Lead Independent Director and members of the AC, the NC and the RC. |
| Role and responsibilities | Role and responsibilities of a Lead Independent Director and members of the AC, the NC and the RC. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Nil |
| Present | Nil |
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