Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
SUNVIC CHEMICAL HOLDINGS LIMITED
Securities
SUNVIC CHEMICAL HOLDINGS LTD - SG1U49933948 - A7S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Dec-2016 17:14:35
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG161219OTHRONUK
Submitted By (Co./ Ind. Name)
Sun Xiao
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director

Additional Details

Name Of Person
Yap Chee Wee
Age
44
Is effective date of cessation known?
Yes
If yes, please provide the date
19/12/2016
Detailed Reason (s) for cessation
He has not been able to convince and procure the PRC management of the Company on the following issues:-
- To comply with SGX Listing Rules with regards to non-mandated interested parties transactions and in particular, the numerous bank loan cross guarantees between the Company and its related parties.
- To obtain shareholders' approval for the disposal of Jiangsu Jurong Petrochemicals Co Ltd.
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
12/07/2010
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Remuneration Committee and member of Audit and Nominating Committees.
Role and responsibilities
Duties of an Independent Director, as well as duties as Chairman of Remuneration Committee and member of Audit and Nominating Committees as covered in the terms and reference of the respective Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
1. China Gaoxian Fibre Fabric Holdings Ltd
2. Vantage I Systems Pte Ltd
3. iFi Academy Pte Ltd
4. iFi Consultancy Pte Ltd
5. JD Athena Sdn Bhd
6. Nine F&B Pte Ltd
7. Landy Delights Pte Ltd
Present
1. Fleur Capital (S) Pte Ltd
2. Fleur Growth Fund Ltd
3. Fleur Real Estate Opportunities Fund Ltd
4. Wisdom Fleur Australia Real Estate Fund I Ltd
5. Infiniti Real Estate Strategies Ltd
6. Fleur Excelon Commodities Fund Ltd
7. Fleur Excelon China Strategic USD Bond Fund Ltd

Attachments

Sunvic_Composition_of_the_Board.pdf
Total size =70K