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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 28, 2024 7:37 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Director and Non-Executive Chairman |
| Announcement Reference | SG240328OTHR6IJL |
| Submitted By (Co./ Ind. Name) | Kwok Hwee Peng |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Director and Non-Executive Chairman - Mr Lee Bon Leong ("Mr Lee") 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 | Lee Bon Leong |
| Age | 77 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 19/04/2024 |
| Detailed Reason (s) for cessation | Mr Lee Bon Leong ("Mr Lee") will retire from office at the Annual General Meeting of the Company to be held on 19 April 2024. He will relinquish his position as Independent Director and Non-Executive Chairman, Chairman of the Nominating Committee, and a member of the Audit and Remuneration Committees. After having interviewed Mr Lee and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr Lee as an Independent Director and Non-Executive Chairman 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 | 05/09/2003 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director and Non-Executive Chairman, Chairman of the Nominating Committee, Member of the Audit and Remuneration Committees. |
| Role and responsibilities | Independent Director and Non-Executive Chairman, Chairman of the Nominating Committee as well as a member of each of the Audit and Remuneration Committees. |
| 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? | Yes |
| Shareholding Details | 100,000 ordinary shares |
| Past (for the last 5 years) | Listed - AnnAik Limited Non-listed NIL |
| Present | Listed - Megachem Limited - Asia Enterprises Holding Ltd Non-listed - D S Lee Foundation - Kien Lee Investment Pte Ltd - King Tower Investment Pte Ltd - Li Lee Investment Pte Ltd - Rectron Investments Pte Ltd - Sing Hup Leong Investment Pte Ltd - Solid Gold Pte Ltd |