News

Change - Announcement Of Resignation Of Chairman And Chief Executive Officer

Back Apr 12, 2023

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Apr 12, 2023 17:25
Status	New
Announcement Sub Title	Resignation of Chairman and Chief Executive Officer
Announcement Reference	SG230412OTHRRAI2
Submitted By (Co./ Ind. Name)	Ang Puak Huen
Designation	Executive Director and Chief Operating 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	Lam Siew Kee
Age	55
Is effective date of cessation known?	Yes
If yes, please provide the date	28/04/2023
Detailed Reason (s) for cessation	Mr. Lam joined the Company in March 2021 with the objective of leading and providing guidance to the management team to set the strategic direction and future growth plans, as well as spearheading fund raising activities. With the completion of the objectives set, Mr. Lam is resigning to pursue other career opportunities. During this interim period, Mr. Lam will handover his duties and responsibilities to Ms. Ang Puak Huen, the Executive Director and Chief Operating Officer. In view of the resignation, Mr. Lam has refrained himself from participating in any corporate decisions. The Board would like to express its gratitude and appreciation towards Mr. Lam for his contributions to the Company and the Board during his tenure. The Sponsor, after having interviewed Mr. Lam, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr. Lam as an Executive Chairman and Chief Executive Officer 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	11/03/2021
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	1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Executive Chairman and Chief Executive Officer
Role and responsibilities	Executive. Mr. Lam Siew Kee is responsible for setting the strategic direction of the Group together with the Board. He also oversees the overall management of the Group, including steering the business and operations for future growth and expansion.
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?	Yes
Shareholding Details	200,000 ordinary shares and 50,000 warrants in the Company
Past (for the last 5 years)	Nil
Present	Outside the Group: Tubo Capital Pte. Ltd. Singko Holdings Pte. Ltd. Within the Group: Cloud Eight Pte. Ltd. LB F&B Pte. Ltd. Superfood Kitchen Pte. Ltd. Takumi Holidays Pte. Ltd. The Green Bar Pte. Ltd. Mr. Lam will also step down as a director of the abovementioned Group's subsidiaries as soon as practicable.