Announcements
Change – Announcement Of Retirement Of Independent Director
Jul 29, 2021
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 29, 2021 20:25 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF INDEPENDENT DIRECTOR |
| Announcement Reference | SG210729OTHRNE1R |
| Submitted By (Co./ Ind. Name) | Ling Yong Wah |
| Designation | Chief Executive Officer |
| Name Of Person |
Yeo Jeu Nam |
| Age |
70 |
| Is effective date of cessation known? |
Yes |
| If yes, please provide the date |
29/07/2021 |
| Detailed Reason (s) for cessation |
Mr. Yeo Jeu Nam retired as an Independent Director, Chairman of the Remuneration Committee (“RC”) and member of the Audit Committee (“AC”) and Nominating Committee (“NC”) at the conclusion of the Annual General Meeting held on 29 July 2021 due to his ill health. After having interviewed Mr. Yeo Jeu Nam and to the best of its 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. Yeo Jeu Nam 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? |
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 |
21/08/2008 |
| 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) |
2 |
| 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 Director, Chairman of RC, member of AC and NC |
| Role and responsibilities |
Non-Executive |
| 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? |
Yes |
| Shareholding Details |
336,666 ordinary shares in the Company |
| Past (for the last 5 years) |
None |
| Present |
Independent Director of Frencken Group Limited |