REPL::Change - Announcement of Cessation::Resignation of Mr. Clement Tay Ming Liang as Executive Director and Chief Executive Officer
Issuer & Securities
Issuer/ Manager
METECH INTERNATIONAL LIMITED
Securities
METECH INTERNATIONAL LTD - SGXE91187273 - V3M
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Oct-2020 12:26:55
Status
Replacement
Announcement Sub Title
Resignation of Mr. Clement Tay Ming Liang as Executive Director and Chief Executive Officer
Announcement Reference
SG201016OTHRV5IN
Submitted By (Co./ Ind. Name)
Monica Kwok
Designation
VP
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Clement Tay Ming Liang as Executive Director and Chief Executive Officer of Metech International Limited.
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.
This announcement has not been examined nor approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is: Name: Mr. Lay Shi Wei, Registered Professional, RHT Capital Pte. Ltd. Address: 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619 Telephone: (65) 6381 6966.
Additional Details
Name Of Person
Clement Tay Ming Liang
Age
41
Is effective date of cessation known?
Yes
If yes, please provide the date
16/10/2020
Detailed Reason (s) for cessation
Mr. Clement Tay Ming Liang ("Mr. Clement Tay"), an Executive Director and the Chief Executive Officer of the Company, has resigned as Executive Director and Chief Executive Officer of the Company with effect from 16 October 2020, which is also his last day.
Mr Clement Tay decided to resign to pursue his personal priorities in China as operationally it has been difficult to remain productive given the travel restrictions between China and Singapore. In this interim period, the management team is led by Ms Samantha Hua, the Deputy Chief Executive Officer of the Company. She has been working in the Group for many years and she's familiar with the Group's business in the supply chain management division.
The Board, with the assistance of the Nominating Committee, is in the process of searching for, and endeavours to identify and appoint a suitable candidate for the role of an Executive Director and Chief Executive Officer as soon as possible.
The Sponsor, after having interviewed Mr. Clement Tay, is satisfied that other than as disclosed in the announcement, there is no other reason for the resignation of Mr. Clement Tay as Executive Director and Chief Executive Officer 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
24/03/2020
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Mr. Clement Tay was responsible for managing and overseeing the overall business strategy and development of the Group.
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?
No
Past (for the last 5 years)
Shanghai Kerui (de-registered) - Director
Metech International Limited - Executive Director and Chief Executive Officer
Asian Agritech Pte. Ltd. - Director
Asian Green Tech Pte. Ltd. - Director
Nolash Tech Pte. Ltd. - Director
Present
Jianshun Foods (Fuzhou, PRC) - Director
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