Change - Announcement of Cessation::RETIREMENT OF CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED
Securities
ASIAPHOS LIMITED - SG2G24997246 - 5WV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Apr-2024 21:35:22
Status
New
Announcement Sub Title
RETIREMENT OF CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR
Announcement Reference
SG240412OTHRGCB8
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Dr Ong Hian Eng as the Chief Executive Officer and Executive Director.

This announcement has been reviewed by the Company's Sponsor, Asian Corporate Advisors Pte. 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 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. Liau H.K., at 160 Robinson Road, #21-05 SBF Center, Singapore 068914, Telephone number: 6221 0271

Additional Details

Name Of Person
Dr Ong Hian Eng ("Dr Ong")
Age
77
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
Dr Ong will be retiring as the Chief Executive Officer and Executive Director of the Company pursuant to Article 88 of the Company's Constitution. Dr Ong has decided not to stand for re-election and retire to facilitate board renewal and the Company agrees and accepts Dr Ong's decision on 12 April 2024. Accordingly, he shall retire at the conclusion of the Company's upcoming Annual General Meeting and is not seeking for re-election.

Dr Ong will also retire from his role as member of the Nominating Committee.

After having interviewed Dr Ong and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Dr Ong as the Chief Executive Officer and the 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?
No
Date of Appointment to current position
03/01/2012
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)
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.)
i. Chief Executive Officer and Executive Director
ii. Member of the Nominating Committee
Role and responsibilities
Carry out the responsibilities of a Chief Executive Officer and Executive Director and Member of the Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Dr Ong is father of Mr Ong Eng Keong, an Executive Director of the Company, uncle of Mr Simon Ong, a Non-Executive Non-Independent Director of the Company, and Ms Ong Bee Kuan Melissa, a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dr Ong holds 9,024,394 ordinary shares and is deemed interested in the 230,653,636 ordinary shares held by FICA (Pte.) Ltd., a substantial shareholder of the Company, in the share capital of the Company.
Past (for the last 5 years)
i. Hwa Hong Corporation Ptd. Ltd.
ii. Singapore Warehouse Company (Private) Ltd.
iii. Ong Chay Tong & Sons (Private) Limited
iv. Paco Industries Pte. Ltd.
v. Singamet Trading Pte. Ltd. (in liquidation)
vi. Global Trade Investment Management Pte Ltd
vii. Asiaphos Resources Pte. Ltd. (struck off)
viii. 253 JB Pte. Ltd.
Present
i. FICA (Pte.) Ltd.
ii. Norwest Chemicals Pte Ltd
iii. Norwest Global Trading Pte. Ltd.