News

Change - Announcement Of Cessation Of Executive Director And Senior Commercial Manager

Back May 07, 2024

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	May 7, 2024 18:13
Status	New
Announcement Sub Title	Cessation of Executive Director and Senior Commercial Manager
Announcement Reference	SG240507OTHRBGWS
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 ("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	Law Chun Sian
Age	32
Is effective date of cessation known?	Yes
If yes, please provide the date	08/05/2024
Detailed Reason (s) for cessation	There has been a change in the controlling shareholder of the Company and, as a result, a change to the composition of the Board. Mr. Law Chun Sian's ("Mr. Law") resignation is to facilitate the appointment of new Board members nominated by the new controlling shareholder, Aurico Global Holdings Pte. Ltd.. Please refer to the Company's announcements dated 17 April 2024 and 7 May 2024 for further information. The Board would like to express its gratitude and appreciation towards Mr. Law for his contributions to the Board during his tenure. The Sponsor, after having interviewed Mr. Law, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr. Law as an Executive Director & Senior Commercial Manager 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	15/01/2024
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)	3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months	3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Executive Director & Senior Commercial Manager
Role and responsibilities	Executive. Mr. Law is responsible for implementing business strategies and overseeing the day-to-day operations of the Company. His area of responsibility includes improving efficiency and ensuring cross-departmental work efficiency and collaboration to achieve organisational goals and enhance overall performance 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: Superfood Kitchen Pte. Ltd. LB F&B Pte. Ltd. The Green Bar Pte. Ltd. Cloud Eight Pte. Ltd. LifeBrandz Investment Management Pte. Ltd. LB F&B Sdn. Bhd. Mr. Law will also step down as a director of the abovementioned Group's subsidiaries (save for LB F&B Sdn. Bhd. which is pending appointment of new director prior to his resignation as the sole director) on the same day or as soon as practicable.