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Change - Announcement Of Resignation Of Independent Director
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Mar 22, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 22, 2023 17:31 |
| Status | New |
| Announcement Sub Title | Resignation of Independent Director |
| Announcement Reference | SG230322OTHRY9M6 |
| Submitted By (Co./ Ind. Name) | Lam Siew Kee |
| 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 (the "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 Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Lim U Wei Ralph Howard |
| Age | 53 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 24/03/2023 |
| Detailed Reason (s) for cessation | To allow for more time to focus on his principal work commitments. Mr Lim U Wei Ralph Howard ("Mr Lim") has tendered his resignation as Independent Director of the Board on 20 March 2023. Taking into consideration the above reason for resignation, the Company and Mr Lim have mutually agreed to shorten his notice period and his cessation to take effect on 24 March 2023. The Company would like to express its gratitude and appreciation towards Mr Lim for his contributions to the Board during his tenure. The Sponsor, after having interviewed Mr Lim, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr Lim as an Independent Non-Executive 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 provide full details | The Company will endeavor to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules. |
| Date of Appointment to current position | 10/06/2021 |
| 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 Director, Chairman of Remuneration Committee and member of Nominating and Audit Committees |
| Role and responsibilities | Independent Director, Chairman of Remuneration Committee and member of Nominating and Audit Committees |
| 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? | No |
| Past (for the last 5 years) | OC Queen Street LLC |
| Present | Prolegis LLC |