News
Change - Announcement Of Retirement Of Independent Director
BackApr 09, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 9, 2024 12:06 |
| Status | New |
| Announcement Sub Title | Announcement of Retirement of Independent Director |
| Announcement Reference | SG240409OTHRKSIR |
| Submitted By (Co./ Ind. Name) | Ng Kian Ann Patrick |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | 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 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 Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg. |
| Additional Details | |
| Name Of Person | Wee Heng Yi, Adrian |
| Age | 45 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 26/04/2024 |
| Detailed Reason (s) for cessation | Mr Wee Heng Yi, Adrian ("Mr Wee") was first appointed as an Independent Non-Executive Director on 11 November 2014 and has served as an Independent Non-Executive Director for more than 9 years. Accordingly, following the conclusion of the forthcoming AGM to be held on 26 April 2024, Mr Wee will no longer be considered independent. As part of the Board renewal process, Mr Wee has indicated, in accordance with Regulation 119(b) of the Constitution of the Company, that he will be retiring and will not be seeking re-election at the AGM. Accordingly, at the conclusion of the AGM, he will also cease to be the Chairman of the Nominating Committee, as well as a member of the Audit Committee, Remuneration Committee and Risk Committee. After having interviewed Mr Wee and to the best of its knowledge, 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 Mr Wee's retirement as an 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 | 11/11/2014 |
| 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 | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee, the Remuneration Committee and the Risk Committee |
| Role and responsibilities | Duties as an Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee, the Remuneration Committee and the Risk 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) | Directorships - Characterist LLC - Pine Capital Group Limited Principal Commitments - Characterist LLC |
| Present | Directorships - Nil Principal Commitments - Lighthouse Law LLC |