News

Change - Announcement Of Resignation Of Chief Operating Officer & Executive Director

Back Dec 22, 2023

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Dec 22, 2023 17:26
Status	New
Announcement Sub Title	Resignation of Chief Operating Officer & Executive Director
Announcement Reference	SG231222OTHRQHEX
Submitted By (Co./ Ind. Name)	Lim Yit Keong
Designation	Lead Independent Director
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	Ang Puak Huen
Age	44
Is effective date of cessation known?	Yes
If yes, please provide the date	31/12/2023
Detailed Reason (s) for cessation	Ms. Ang Puak Huen ("Ms. Ang") tendered her resignation on 15 December 2023 to pursue other career opportunities. Considering the start date of her new employment and the availability of the new Executive Director who is the successor of her role to be appointed shortly on 15 January 2024, the Company and Ms. Ang have mutually agreed for her last day of employment to be 31 December 2023. During this interim period, Ms. Ang will hand over her duties and responsibilities to Mr. Law Chun Sian, the newly appointed Executive Director & Senior Commercial Manager. A detailed announcement pursuant to Rule 704(6) of the Catalist Rules containing the particulars of Mr. Law Chun Sian has been released separately via the SGXNet on 22 December 2023. In view of her resignation, Ms. Ang has refrained from participating in any corporate decisions. The Board would like to express its gratitude and appreciation towards Ms. Ang for her contributions to the Company and the Board during her tenure. The Sponsor, after having interviewed Ms. Ang, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Ms. Ang as an Executive Director & Chief Operating 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	10/02/2021
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
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months	4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Executive Director and Chief Operating Officer
Role and responsibilities	Executive. Ms. Ang Puak Huen is responsible for designing and implementing business strategies, plans and procedures of the Company and overseeing the day-to-day operations of the Company.
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)	Nil
Present	Outside the Group: Nil Within the Group: Cloud Eight Pte. Ltd. LB F&B Pte. Ltd. Superfood Kitchen Pte. Ltd. LifeBrandz Investment Management Pte. Ltd. (f.k.a. Takumi Holidays Pte. Ltd.) The Green Bar Pte. Ltd. LB F&B Sdn. Bhd. Ms. Ang will also step down as a director of the abovementioned Group's subsidiaries on the same day or as soon as practicable.