Change - Announcement of Cessation::Cessation as Independent Director who is an Audit Committee member

Issuer & Securities

Issuer/ Manager
ONIONTECH LIMITED
Securities
ONIONTECH LIMITED - SG1S42927578 - 5HG

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Apr-2014 18:00:40
Status
New
Announcement Sub Title
Cessation as Independent Director who is an Audit Committee member
Announcement Reference
SG140424OTHR7J69
Submitted By (Co./ Ind. Name)
Lee Jei Hoon
Designation
Executive Director/Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited, for compliance with the relevant rules of the SGX-ST. The Company's Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or 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 Company's Sponsor is Ms. Alicia Kwan at 1 Robinson Road, #21-02, AIA Tower, Singapore 048542, telephone (65) 6221 5590.

Additional Details

Name Of Person
Choong Yoon Kian
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
24/04/2014
Detailed Reason (s) for cessation
Mr Choong Yoon Kian retired at the Annual General Meeting of the Company (the "Meeting") and he did not seek for re-election at the Meeting. Concurrently, Mr Choong Yoon Kian ceased to be Chairman of Nominating Committee and Member of the Audit and Remuneration Committees. The reason for not seeking for re-election is to pursue his other career interests.

The Company's Sponsor has contacted Mr Choong Yoon Kian and, based on its enquiries, is satisfied that other than as disclosed in this announcement, there are no material reasons for him not seeking for re-election.
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
31/12/2004
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, Member of Audit and Remuneration Committees
Role and responsibilities
Responsibilities as Independent Director, Chairman of Nominating Committee, Member of Audit and Remuneration 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)
I-Magination Group Pte Ltd, OWW Investments III Limited, Rainforest Investments Limited, Buzzcity (China) Ltd, Buzzcity Sdn Bhd, Buzzcity, Inc., Shanghai Newtouch Software Company Ltd, Unifisoft Holdings Limited, OWWIG Limited, Beijing Evercare Medical Beauty Technology Co Ltd., Buzzcity Pte Ltd
Present
Rainforest Research Pte Ltd, Ferrybrook Limited, Rainforest Fund Limited