Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
ASIATIC GROUP (HOLDINGS) LIMITED
Securities
ASIATIC GROUP (HOLDINGS) LTD - SG1N86910089 - 5CR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jul-2018 18:50:14
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG180726OTHR1ON0
Submitted By (Co./ Ind. Name)
Kenneth Leong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Director.

This announcement (the "Announcement") has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B:Rules of Catalist. The Sponsor has not verified the contents of the Announcement.

This Announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of the Announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in the Announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship (Mailing Address:16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Tan Boon Yew
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
26/07/2018
Detailed Reason (s) for cessation
To facilitate Board renewal, Mr Tan Boon Yew had retired as an Executive Director of the Company at the annual general meeting of the Company held on 26 July 2018 and did not seek re-election.

Other than as disclosed in this announcement, there are no other reasons for the cessation of Mr Tan as an Executive Director of the Company.

Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in the announcement, there are no material reasons for the retirement of Mr Tan as an 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
25/10/2002
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 Director.
Role and responsibilities
Mr Tan Boon Yew is responsible for the management and supervision of the marine-based fire fighting and protection business of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Tan Boon Yew is the brother of Mr Tan Boon Kheng and Tan Boon Siang who are directors and substantial shareholders of the Company. Mr Tan Boon Yew is the son of Mr Tan Ah Kan, who is a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
69,836,000 Ordinary Shares
Past (for the last 5 years)
NIL
Present
Asiatic Fire System Pte Ltd, Colben Energy (Singapore) Pte Ltd, Colben System Pte Ltd, Colben Energy Holdings (Vietnam) Ltd, Colben Energy Holdings (Maju Intan) Ltd, Colben Energy (Kemaman) Ltd, Colben Energy Holdings (Cambodia) Ltd, Colben Energy Holdings (PPSEZ) Ltd, Maju Intan Biomass Energy Sdn Bhd, Colben Energy (Cambodia) Limited, Colben Energy (Cambodia) PPSEZ Limited