Change - Announcement of Cessation::Announcement of Cessation of Executive & Non-independent Director

Issuer & Securities

Issuer/ Manager
SERIAL SYSTEM LTD
Securities
SERIAL SYSTEM LTD - SG1E36851343 - S69
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Jan-2016 20:24:12
Status
New
Announcement Sub Title
Announcement of Cessation of Executive & Non-independent Director
Announcement Reference
SG160107OTHRQYTT
Submitted By (Co./ Ind. Name)
Alex Wui Heck Koon
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Peter Ho I Chin as Executive and Non-independent director of Serial System Ltd. Peter Ho I Chin will also resign as Executive Chairman and Group Chief Executive Officer of Bull Will Co., Ltd, a 29.07% owned associated company of the Company.

Additional Details

Name Of Person
Peter Ho I Chin
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
07/01/2016
Detailed Reason (s) for cessation
Due to personal reasons
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
17/08/2009
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Group Chief Executive Officer of Bull Will Co., Ltd, a 29.07% owned associated company of the Company.
Role and responsibilities
Mr Peter Ho leads the management team of Bull Will Co., Ltd ("Bull Will") in executing strategies to achieve the goals set by Bull Will's board of directors.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
500,000 shares in Serial System Ltd (0.06%)

2,546,029 shares in Bull Will Co., Ltd (3.49%)
Past (for the last 5 years)
Serial System Ltd.

Bull Will Co., Ltd and its subsidiaries.
Present
Nil