Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
RICH CAPITAL HOLDINGS LIMITED
Securities
RICH CAPITAL HOLDINGS LIMITED - SG2G63000001 - 5G4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Jul-2021 17:38:46
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG210730OTHRBYLE
Submitted By (Co./ Ind. Name)
OH SIYANG
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Giang Sovann as an Independent Director, Interim Chairman, Chairman of Audit Committee and a member of the Nominating Committee and Remuneration Committee.

This announcement has been reviewed by the Company's sponsor SAC Capital Private Ltd (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange ") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Ms Tay Sim Yee (Tel: (65) 6232 3210), 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Giang Sovann
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
30/07/2021
Detailed Reason (s) for cessation
Resolution relating to the re-election of Mr Giang Sovann as a Director of the Company was not passed at the Annual General Meeting held on 30 July 2021.

Following his cessation, Mr Giang Sovann shall ipso factor cease to be the Interim Chairman of the Board, Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee.

Based on its enquiries, the Company's sponsor, SAC Capital Pte Ltd, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr Giang Sovann as a 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
22/01/2018
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Interim Chairman, Independent Non-Executive Director, Chairman of Audit Committee and a member of Nominating Committee and Remuneration Committee.
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?
No
Past (for the last 5 years)
Resources Prima Group Limited
Epicentre Holdings Limited
GMC Management Pte. Ltd. (struck off on 4 June 2018)
Present
Cambodia Post Bank PLC
Silkroad Nickel Limited
Funan Microfinance PLC
Corporate Governance Academy Pte. Ltd.