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Announcement Of Cessation As Executive Director
BackApr 30, 2012
| Resignation Details | |
| Name Of Person | STEVEN CHEN CHOON KHEE |
| Age | 45 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 30/04/2012 |
| Detailed Reason(s) for Cessation | Mr Steven Chen Choon Khee has agreed to sell his entire shareholdings of 20,238,082 representing 12.23% of the total issued shares of the Company in tranches, with the sale fully completed by 30 May 2013. He has resigned as Director of the Company with effect from 30 April 2012. Please refer to the Company's announcement of 20 April 2012 regarding the sale of shares by Executive Chairman Mr Steven Chen Choon Khee. Based on its enquiries, the Sponsor is satisfied that other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Steven Chen Choon Khee as the Executive Director of the Company. |
| Is there any difference of opinion on material matters between the person and the Board of directors? | No |
| If yes, please elaborate | NA |
| 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 |
| If yes, please elaborate | NA |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 19/07/2005 |
| Job Title | Executive Director and Executive Chairman |
| Role and Responsibilities | Responsible for overall operations, management, strategic planning and business development of the Group. |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | 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) over the past 12 months | 1 |
| Shareholding in the listed issuer and its subsidiaries | 10,863,082 ordinary shares |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Other Directorship | |
| Past Directorship (for the last five years) | 1. Natural Cool Airconditioning & Engineering Pte Ltd 2. Natural Cool Investments Pte. Ltd. 3. NC (Singapore) Pte. Ltd. 4. Buy and Fix Pte. Ltd. 5. Nova Engineering & Logistics Pte. Ltd. 6. Hino Metalform Pte. Ltd. 7. NC Steel Pte. Ltd. |
| Present Directorship | 1. Oriental Group Ltd. |
| Other Notes | |
| Footnotes | This announcement has been prepared by the Company and reviewed by the Company's sponsor, CNP Compliance Pte Ltd ("Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement including the accuracy or completeness of any of the information disclosed or the correctness of any of the statements or opinions made or reports contained in this announcement .This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr Pradeep Kumar Singh at 36 Carpenter Street, Singapore 059915, telephone: (65) 6323 8383; email: pksingh@cnplaw.com. |
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