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Resignation of Independent Non-Executive Director

Jun 27, 2022

Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Jun 27, 2022 23:26
Status New
Announcement Sub Title Resignation of Independent Non-Executive Director
Announcement Reference SG220627OTHRGAJD
Submitted By (Co./ Ind. Name) Ling Yong Wah
Designation Chief Executive Officer
Additional Details
Name Of Person

Poon Siew Long



Is effective date of cessation known?


If yes, please provide the date


Detailed Reason (s) for cessation

Mr. Poon Siew Loong (“Mr. Poon”) has resigned as an Independent Director of the Company due to his health and heavy work commitments.

Following Mr. Poon’s resignation, he will relinquish his position as the Chairman of Nominating Committee (“NC”) and a member of Audit Committee (“AC”) and Remuneration Committee (“RC”) of the Company.

After having interviewed Mr. Poon and to the best of his knowledge, the Company’s Sponsor, Provenance Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Poon as an Independent 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?


Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?


Any other relevant information to be provided to shareholders of the listed issuer?


Date of Appointment to current position


Does the AC have a minimum of 3 members (taking into account this cessation)?


Number of Independent Directors currently resident in Singapore (taking into account this cessation)


Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months


Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)

Independent Non-Executive Director, Chairman of NC and member of AC and RC

Role and responsibilities


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


Shareholding interest in the listed issuer and its subsidiaries?


Past (for the last 5 years)

1. Shanghai Panlong Enterprise Management Consulting Co. Ltd. (Legal Person)

2. Pan Capital Pte Ltd


1. Kimen Pte Ltd

2. Bondsupermart Pte Ltd.