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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 28, 2023 7:21 |
| Status | New |
| Announcement Sub Title | Cessation of Non-Executive Non-Independent Director |
| Announcement Reference | SG230328OTHRMSG3 |
| Submitted By (Co./ Ind. Name) | Kwok Hwee Peng |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Non-Executive Non-Independent Director - Mr Tan Bock Chia ("Mr Tan") 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 "Exchange") and the Exchange 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 Mr Bernard Lim (Tel-: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Tan Bock Chia |
| Age | 66 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 19/04/2023 |
| Detailed Reason (s) for cessation | Pursuant to Regulation 117 of the Company's Constitution, Mr Tan Bock Chia will retire at the upcoming Annual General Meeting to be held on 19 April 2023. As at the date of this announcement, the Company's Sponsor, SAC Capital Private Limited, despite several attempts, has not been able to conduct an exit interview with Mr Tan. The Company has not been able to obtain Mr Tan's confirmation on the contents of this announcement as well and accordingly, the Company has prepared this announcement based on information available to the Company. In particular, the Company has assumed and indicated negative responses to the queries in this announcement relating to (i) any unresolved differences in opinion on material matters between the person and the board of directors; (ii) any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer; and (iii) any other relevant information to be provided to shareholders of the listed issuer. The Sponsor, together with the Company, will nevertheless address any new material information relating to this cessation of Mr Tan that is made known to it after the date of this announcement. Shareholders will be updated of such material information, if deemed necessary. |
| 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 | 09/06/2021 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Non-Independent Director |
| Role and responsibilities | Non-Executive Non-Independent Director |
| 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 | 25,435,083 ordinary shares |
| Past (for the last 5 years) | Listed Megachem Limited Megachem (Thailand) PCL Non-listed Megachem Manufacturing Pte Ltd Megachem Raya Pte Ltd Megachem (Shanghai) Pte Ltd C.N. Chemicals Sdn. Bhd. P.T. Mega Kemiraya Megachem Plus Limited Megachem Phils., Inc Megachem International Trading (Shanghai) Co., Ltd Megachem (UK) Ltd Megachem Middle East FZE Megachem Vietnam Company Limited Megachem Specialty Chemicals (I) Private Limited Megachem Australia Pty Ltd (formerly known as MG Chemicals (Australia) Pty Ltd) |
| Present | Nil |