| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 17, 2023 17:29 |
| Status | New |
| Announcement Sub Title | Resignation of Executive Director |
| Announcement Reference | SG231017OTHRES8R |
| Submitted By (Co./ Ind. Name) | Ng Kai Man |
| Designation | Executive Director |
| Description (Please provide a detailed description of the event in the box below) |
Resignation of Mr. Ng Kai Man as Executive Director. This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It 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 document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Ms Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg. |
| Additional Details | |
| Name Of Person | Ng Kai Man |
| Age | 68 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 17/10/2023 |
| Detailed Reason (s) for cessation |
Shareholders have approved the change of the Company's core businesses on 31 July 2023. In this regard, the disposal of the Group's old businesses in Malaysia and Hong Kong were completed and Mr. Ng Kai Man ("Mr. Ng") is of the view that it is timely for him to step down at this juncture. After having interviewed Mr. Ng and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Ng as the Executive Director 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 | 09/03/2016 |
| 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) | 1 |
| 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 |
| Role and responsibilities | Responsible for the Company's business development and sets the strategic directions 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) | N.A. |
| Present |
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