Change - Announcement of Cessation::RE-DESIGNATION OF NON-EXECUTIVE CHAIRMAN TO NON-EXECUTIVE DEPUTY CHAIRMAN

Issuer & Securities

Issuer/ Manager
GYP PROPERTIES LIMITED
Securities
GYP PROPERTIES LIMITED - SG1AJ7000000 - AWS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Jun-2020 19:54:32
Status
New
Announcement Sub Title
RE-DESIGNATION OF NON-EXECUTIVE CHAIRMAN TO NON-EXECUTIVE DEPUTY CHAIRMAN
Announcement Reference
SG200622OTHR1SLX
Submitted By (Co./ Ind. Name)
Lee Wei Hsiung
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
RE-DESIGNATION OF NON-EXECUTIVE CHAIRMAN TO NON-EXECUTIVE DEPUTY CHAIRMAN

Additional Details

Name Of Person
MAH BOW TAN
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2020
Detailed Reason (s) for cessation
In line with corporate governance best practices for a stronger element of independence on the Board, Mr Mah Bow Tan will be stepping down as Non-Executive Chairman.

Mr Mah Bow Tan will be appointed as the Non-Executive Deputy Chairman and Non-Independent 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
30/09/2011
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.)
Non-Executive Chairman and Non-Independent Director and a member of Remuneration Committee.
Role and responsibilities
Non-Executive Chairman and Non-Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest - 24,000,000 ordinary shares
Deemed interest - 600,000 ordinary shares
Past (for the last 5 years)
Globalcities Sustainable Investment Pte Ltd
Pontiac Land Private Limited
Present
Globalcities Consult Pte Ltd
Mainly I Love Kids (International) Limited
Pacific Star Global Capital Pte Ltd