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Change - Announcement Of Resignation Of Lead Independent Director
BackOct 02, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 2, 2024 21:59 |
| Status | New |
| Announcement Sub Title | Resignation of Lead Independent Director |
| Announcement Reference | SG241002OTHRD8T0 |
| Submitted By (Co./ Ind. Name) | Dato' Dr. Choo Yeow Ming |
| Designation | Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Dr Lam Lee G ("Dr Lam") as Lead Independent Director, Chairman of Nominating Committee and a member of Audit Committee and Remuneration Committee. This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance 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 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 Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg. |
| Additional Details | |
| Name Of Person | Dr Lam Lee G |
| Age | 65 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 02/10/2024 |
| Detailed Reason (s) for cessation | Pursuant to Catalist Rule 406(3)(d)(iv), Dr Lam will cease to be considered independent at the conclusion of the upcoming annual general meeting. Accordingly, Dr Lam has decided to step down and resign as Independent Director of the Company, to facilitate Board renewal. Dr Lam will concurrently cease to be the Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee. After having interviewed with Dr Lam and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Dr Lam as the Lead Independent Director of the Company. The Board and the Nominating Committee are currently in the process of reviewing the Board's composition and searching for suitable candidate to be appointed to the Board as an Independent Director and member of its Board Committees to ensure compliance with the Code of Corporate Governance 2018 and relevant Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist. The Board will update Shareholders when appropriate. |
| 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 | 05/06/2007 |
| 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 | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director, Chairman of Nominating Committee and a member of Audit Committee and Remuneration Committee |
| Role and responsibilities | The role and responsibilities as a Lead Independent Director, Chairman of Nominating Committee and a member of Audit Committee and Remuneration Committee |
| 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) | - Jade Road Investments Limited - Greenland Hong Kong Holdings Limited - USPACE Technology Group Limited (fka Hong Kong Aerospace Technology Group Limited) - Kidsland International Holdings Limited - Huarong International Financial Holdings Limited - CSI Properties Limited - Sunwah Kingsway Capital Holdings Limited - Vongroup Limited - MOS House Group Limited - China Hong Kong Power Smart Energy Group Limited (fka China LNG Group Limited) - Elife Holdings Limited - Thomson Medical Group Limited - Alset International Limited - Haitong Securities Company Limited - TMC Life Sciences Berhad - Beverly JCG Ltd - National Arts Group Holdings Limited - Top Global Limited - Tianda Pharmaceuticals Limited - Sunwah International Limited - Aurum Pacific (China) Group Limited - Huarong Investment Stock Corporation Limited - Glorious Sun Enterprises Limited - Green Leader Holdings Group Limited - Hsin Chong Group Holdings Limited - China Shandong Hi-Speed Financial Group Limited |
| Present | - Mei Ah Entertainment Group Limited - AustChina Holdings Limited - Hang Pin Living Technology Company Limited - Mingfa Group (International) Company Limited - RENHENG Enterprise Holdings Limited - Sinohope Technologies Holdings Limited |