Change - Announcement of Cessation::Resignation of Chief Deputy General Manager of WPMC

Issuer & Securities

Issuer/ Manager
WORLD PRECISION MACHINERY LIMITED
Securities
WORLD PRECISION MACHINERY LTD - SG1T29930156 - B49
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Dec-2022 17:17:36
Status
New
Announcement Sub Title
Resignation of Chief Deputy General Manager of WPMC
Announcement Reference
SG221229OTHR5442
Submitted By (Co./ Ind. Name)
Shao Jianjun
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Mr Zhuang Guosheng was appointed as the Chief Deputy General Manager of World Precise Machinery (China) Co., Ltd. ("WPMC") on 1 March 2019 and Chief Executive Officer ("CEO") of the Company on 22 November 2019. He retired as the CEO of the Company at the end of term of his service agreement with the Company on 21 November 2022 and remained as the Chief Deputy General Manager of WPMC, an Executive Officer (as defined in the Listing Manual of the Singapore Exchange Securities Trading Limited) and a member of the Group's key management team.

Consequent to the above, Mr Zhuang Guosheng is resigning as the Chief Deputy General Manager of WPMC with effect from 1 January 2023 and he shall cease as a member of the Group's key management team and an Executive Officer (as defined in the SGX-ST Listing Manual).

Mr Wen Hui, the incumbent CEO of the Company and General Manager of WPMC, will assume Mr Zhuang Guosheng's duties in WPMC and continue to be in charge of the overall operations of the Group.

Additional Details

Name Of Person
Zhuang Guosheng
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
01/01/2023
Detailed Reason (s) for cessation
To seek other career opportunities.
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
01/03/2019
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Deputy General Manager of WPMC
Role and responsibilities
Mr Zhuang Guosheng was in charge of production, technical, quality control, procurement and equipment department as a Chief Deputy General Manager of WPMC.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil