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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
Additional Details
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