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Change - Announcement Of Cessation Of Chief Corporate Officer
BackFeb 15, 2017
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 15, 2017 20:11 |
| Status | New |
| Announcement Sub Title | CESSATION OF CHIEF CORPORATE OFFICER |
| Announcement Reference | SG170215OTHRMU22 |
| Submitted By (Co./ Ind. Name) | Leaw Wei Siang |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of 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 accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr Thomas Lam, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088. |
| Additional Details | |
| Name Of Person | Ng Quek Peng |
| Age | 62 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 15/02/2017 |
| Detailed Reason (s) for cessation | Misalignment of interest with that of the Company. Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ng Quek Peng as Chief Corporate Officer 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 | 24/11/2016 |
| 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 | 7 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Corporate Officer |
| Role and responsibilities | Responsible for spearheading the business development of the Group at the local and regional level in respect of the Group's Aircon and Paint businesses. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Direct Interest : 27,000,000 ordinary shares |
| Past (for the last 5 years) | 1. Otto Marine Limited 2. Mapletree Logistics Trust Management Ltd 3. Zico Holdings Inc. |
| Present | 1. Japfa Ltd 2. Halcyon Capital Pte. Ltd. 3. Asia Pacific Port Holdings Pte. Ltd. |
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