Change - Announcement Of Cessation Of Non-Executive And Non-Independent Director - 2016

Announcement Title

Change - Announcement of Cessation

Announcement Subtitle

CESSATION OF NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR

Securities

ELEKTROMOTIVE GROUP LIMITED (ELEKTROG)

Date & Time of Broadcast

Mar 16, 2016 18:58

Submitted By

RICKY ANG GEE HING
EXECUTIVE VICE-CHAIRMAN AND MANAGING 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 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

JAMES ANG GHEE ANN

Age

56

Is effective date of cessation known?

Yes

Effective date for cessation

Mar 16, 2016

Detailed reason(s) for cessation

Mr James Ang Ghee Ann is of the view that he will not be able to fulfill the duties of Non-Executive and Non-Independent Director of the Company due to his other commitments.
Based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Ang as an Non-Executive and Non-Independent Director and a member of the Nominating and Remuneration Committees 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

Mar 28, 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

1

Job Title

Non-Executive and Non-Independent Director and a member of the Nominating Committee and Remuneration Committee.

Role and responsibilities

Non-Executive.

Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries

Mr Ang is the brother of Mr Ricky Ang Gee Hing, Executive Vice-Chairman and Managing Director of the Company.

Shareholdings interest in the listed issuer and its subsidaries?

Yes

Shareholding Details

Mr Ang holds 800,000 shares in the Company. As Mr Ang owns 25% of MA Builders Pte Ltd, he is deemed to be interested in 2,400,050 shares in the Company held by MA Builders Pte Ltd.

Other directorships

Past (for the last 5 years)

Hexabuild Pte Ltd
MA Builders International (Vietnam) Co., Ltd.
MAI Interior Co., Ltd.
AGV Holdings Pte. Ltd.

Present

MA Builders Pte Ltd (Managing Director, May 1993 to Present)
MA Holdings Pte Ltd (Director, 1995 to Present)
Asia Galvanizing (S) Pte Ltd (Chairman and Director, October 2010 to Present)
MAI Investment Pte Ltd (Managing Director, June 2007 to Present)
YAL Enterprise Pte Ltd (Director, October 2009 to Present)