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Change - Announcement Of Resignation Of Independent Director
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Mar 10, 2021
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 10, 2021 23:09 |
| Status | New |
| Announcement Sub Title | Resignation of Independent Director |
| Announcement Reference | SG210310OTHR4Q2N |
| 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 | Naoki Watanabe |
| Age | 44 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 10/03/2021 |
| Detailed Reason (s) for cessation | As mentioned in the announcement and the circular to shareholders of the Company dated 9 February 2021, Mr Naoki Watanabe has expressed his intention to resign from the Board upon completion of the proposed transactions in view of (i) the new strategic direction of the Group, which will be focusing on F&B-related industries within the ASEAN region in the near to medium term; and (ii) allowing the appropriate candidate with the relevant experience to take over his roles in advising the Group for the design and implementation of the aforementioned business plans. The Board expresses its gratitude towards the contributions of Mr Naoki Watanabe during his tenure. SAC Capital Private Limited, after having enquired Mr Naoki Watanabe, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Naoki Watanabe. |
| 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 | 05/08/2020 |
| 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 | 4 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Remuneration Committee Chairman and a member of the Audit Committee and the Nominating Committee |
| Role and responsibilities | Independent Director, Remuneration Committee Chairman and a member of the Audit Committee and the Nominating Committee |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Cosmo Union Co., Ltd |
| Present | None |