News
Change - Announcement Of Cessation Of Independent Director
Jan 27, 2026
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 27, 2026 18:45 |
| Status | New |
| Announcement Sub Title | Cessation of Independent Director |
| Announcement Reference | SG260127OTHRKC9N |
| Submitted By (Co./ Ind. Name) | Ng Boon Hui |
| Designation | Executive Chairman 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, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST 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 Qi Fang (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name of person | Tay Lee Sie Fiona |
| Age | 43 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date. | 28/01/2026 |
| Detailed reason(s) for cessation | Ms Tay Lee Sie Fiona ("Ms Tay") is due to retire at the upcoming Annual General Meeting ("AGM") to be held on 28 January 2026 pursuant to Regulation 117 of the Company's Constitution. Ms Tay has on 27 January 2026 served notice to the Company that she does not wish to seek re-appointment due to other work commitments, including establishment of a new business. Upon her retirement, Ms Tay will be relinquishing her position as Chairman of Audit Committee and member of Nominating and Remuneration Committee. The Company would like to express its gratitude and appreciation towards Ms Tay for her valuable contributions to the Board during her tenure. The Sponsor, after having interviewed Ms Tay, is satisfied that, save as disclosed in the announcement, there are no material reasons for the retirement of Ms Tay as 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? | Yes |
| If yes, please elaborate. | The auditor of the Company, Grant Thornton Audit LLP, has included a Material Uncertainty Related to Going Concern section on the audited financial statements of the Group for the financial year ended 31 July 2025 ("FY2025"). Please refer to the Company's FY2025 annual report and announcement dated 13 January 2026 for further information. The Company is in the midst of identifying new director candidates and will endeavour to fill the vacancies in the Board in accordance with the Code of Corporate Governance 2018. The Company will make relevant announcement on the composition of the Board and Board Committees of the Company after such appointment. |
| Date of appointment to current position | 12/03/2025 |
| Job title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of Audit Committee, member of Nominating and Remuneration Committee |
| Role and responsibilities | Independent Director, Chairman of Audit Committee, member of Nominating and Remuneration Committee |
| 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) | 2 |
| Do independent directors make up at least one-third of the board (taking into account this cessation)? | Yes |
| Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 2 |
| Shareholding interest in the listed issuer and its subsidiaries | No |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Other Directorships Past (for the last 5 years) |
NIL |
| Present | Valtus Advisory Pte. Ltd |