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Change - Announcement Of Resignation Of Executive Director
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Feb 28, 2019
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 28, 2019 20:27 |
| Status | New |
| Announcement Sub Title | Resignation of Executive Director |
| Announcement Reference | SG190228OTHRGXIP |
| Submitted By (Co./ Ind. Name) | Saito Hiroyuki |
| Designation | Executive Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | This announcement has been prepared by the Company and reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by 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 | Kayoko Francis |
| Age | 40 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 28/02/2019 |
| Detailed Reason (s) for cessation | Managerial differences with CEO in relation to operation of company and strategic direction going forward. SAC Capital Private Limited, after having interviewed Ms Kayoko Francis, is satisfied that other than as disclosed in this announcement, there are no material reasons for her resignation. |
| 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? | Yes |
| If Yes, Please provide full details | Unpaid salary for January and February 2019 and AWS |
| 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 | 13/07/2018 |
| 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 | 6 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Director |
| Role and responsibilities | Executive Director 1. Evaluate new business opportunities for the Group 2. Assist to oversee operations and strategic direction of the Group |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 4,170,000 shares |
| Past (for the last 5 years) | Francis Foods Pte. Ltd. |
| Present | Takumi Holidays Pte. Ltd. Finesse Digital Pte. Ltd. Francis Development PT MCF Commerce Private Limited |