Change - Announcement of Cessation::Cessation of Quek Wei Ling as General Manager (Regional MNC, Vietnam, Thailand and Indonesia)

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Nov-2020 23:59:22
Announcement Sub Title
Cessation of Quek Wei Ling as General Manager (Regional MNC, Vietnam, Thailand and Indonesia)
Announcement Reference
Submitted By (Co./ Ind. Name)
Lim Chuan Poh
Non-Executive and Independent Chairman
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, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The 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 Sponsor is Mr Khong Choun Mun - Registered Professional, 6 Raffles Quay, #24-02, Singapore 048580,

Additional Details

Name Of Person
Quek Wei Ling
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Following the completion of the disposal of the entire e-commerce, e-commerce enabler and logistics business (including the technology and business solutions in relation to the foregoing) of the Group by the Company on 5 November 2020 and in accordance with the terms of the sale and purchase agreement dated 5 August 2020 which the Company had entered with Synagistics Pte. Ltd., as a purchaser, and Metadrome Ltd., as a guarantor to the Company, Ms Quek Wei Ling has ceased to be the General Manager (Regional MNC, Vietnam, Thailand and Indonesia) of the Group with immediate effect.

After having interviewed Ms Quek Wei Ling and to the best of its knowledge, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Ms Quek Wei Ling as the General Manager (Regional MNC, Vietnam, Thailand and Indonesia) of the Group.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
General Manager (Regional MNC, Vietnam, Thailand and Indonesia)
Role and responsibilities
Executive. Ms Quek Wei Ling is the individual leading the regional team, that manages the regional brand partners accounts, and working in close partnership with the Group's regional e-commerce platform partners, building joint business plans, driving sales performance, growth and profitability. Key roles include new regional brand partner acquisition, sharing of best practices and ensuring consistent deliverables to the Group's partners.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
192,037 ordinary shares of the Company
Past (for the last 5 years)