Stock Code:YYB.SI
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | CESSATION OF EXECUTIVE DIRECTOR |
| Securities |
ELEKTROMOTIVE GROUP LIMITED (ELEKTROG) |
| Date & Time of Broadcast | May 23, 2016 17:45 |
| Submitted By |
NG KAI MAN EXECUTIVE DIRECTOR |
| Description |
This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of the Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088. |
| Cessation Details | |
| Name of person | TAN CHONG CHAI |
| Age | 58 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | May 23, 2016 |
| Detailed reason(s) for cessation |
Mr Tan Chong Chai is of the view that he wants to pursue his personal interest and will not be able to fulfil the duties of Executive Director of the Company. Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Tan as an 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 | Nov 14, 2012 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this account this cessation) | 5 |
| Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 2 |
| Job Title | Executive Director. |
| Role and responsibilities | Responsible for business development and setting 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 subsidaries | None. |
| Shareholdings interest in the listed issuer and its subsidaries? | No |
| Other directorships | |
| Past (for the last 5 years) |
MGM Lottery Ltd. Twenty10 Cafe Concepts Pte. Ltd. |
| Present | NA |