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Change - Announcement Of Cessation Of Independent Non-Executive Director
BackSep 12, 2018
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Sep 12, 2018 18:10 |
| Status | New |
| Announcement Sub Title | Cessation of Independent Non-Executive Director |
| Announcement Reference | SG180912OTHRA5Z4 |
| Submitted By (Co./ Ind. Name) | Wong Leon Keat |
| Designation | Managing Director |
| 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 Tan Pei Woon, Senior Manager, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg). |
| Additional Details | |
| Name Of Person | Ronnie Tan Siew Bin ("Mr Ronnie Tan") |
| Age | 58 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 10/09/2018 |
| Detailed Reason (s) for cessation | Disqualified from acting as a director for 5 years from 16 March 2017 pursuant to Section 155A of the Companies Act (Chapter 50) of Singapore. Mr Ronnie Tan is in the midst of filing an application to the Singapore High Court via an originating summons to rectify the situation. The Company wishes to thank Mr Ronnie Tan for his invaluable services and contribution to the Company in the last one and a half years. Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Ronnie Tan Siew Bin 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 | 08/02/2017 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | No |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 2 |
| 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 Non-Executive Director, Chairman of the Nominating Committee, member of the Audit Committee, member of the Remuneration Committee |
| Role and responsibilities | The roles and responsibilities as Independent Non-Executive Director, Chairman of the Nominating Committee, member of the Audit Committee, member of the Remuneration 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? | No |
| Past (for the last 5 years) | Globull Investment and Development Pte. Ltd. Unomachine Pte. Ltd. (In Liquidation - Compulsory Winding Up) VR Asia Way (Singapore) Pte. Ltd. (Struck Off) Social Slingshot Pte. Ltd. (Struck Off) Symetis Singapore Pte. Ltd. (Struck Off) Loyalty Play Pte. Ltd. (Struck Off) BTV247 Pte. Ltd. (Struck Off) Lundxo Pte. Ltd. (Struck Off) |
| Present | Central Chambers Law Corporation Chambers Resources Pte. Ltd. Prosell Global Learning Pte. Ltd. Reqall Technologies Pte. Ltd. Asia Entrepreneurs Exchange Ltd. Far East Agribusiness Consultants Pte Ltd Wireless Ventures Philippines Pte Ltd Marsman Drysdale Pte. Limited |
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