Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
LIFEBRANDZ LTD.
Securities
LIFEBRANDZ LTD. - SG1DF7000002 - 1D3
LIFEBRANDZ LTD. W240621 - SGXN94246398 - NCXW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Mar-2023 17:31:04
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG230322OTHRY9M6
Submitted By (Co./ Ind. Name)
Lam Siew Kee
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Lim U Wei Ralph Howard
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
24/03/2023
Detailed Reason (s) for cessation
To allow for more time to focus on his principal work commitments.

Mr Lim U Wei Ralph Howard ("Mr Lim") has tendered his resignation as Independent Director of the Board on 20 March 2023. Taking into consideration the above reason for resignation, the Company and Mr Lim have mutually agreed to shorten his notice period and his cessation to take effect on 24 March 2023.

The Company would like to express its gratitude and appreciation towards Mr Lim for his contributions to the Board during his tenure. The Sponsor, after having interviewed Mr Lim, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr Lim as an Independent Non-Executive 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?
Yes
If Yes, Please provide full details
The Company will endeavor to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules.
Date of Appointment to current position
10/06/2021
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.)
Independent Director, Chairman of Remuneration Committee and member of Nominating and Audit Committees
Role and responsibilities
Independent Director, Chairman of Remuneration Committee and member of Nominating and Audit Committees
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
Other Directorships
Past (for the last 5 years)
OC Queen Street LLC
Present
Prolegis LLC