Change - Announcement of Cessation::Resignation of Non-Independent Non-Executive Director - Mr George Yong-Boon Yeo

Issuer & Securities

Issuer/ Manager
WILMAR INTERNATIONAL LIMITED
Securities
WILMAR INTERNATIONAL LIMITED - SG1T56930848 - F34
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Dec-2017 17:55:46
Status
New
Announcement Sub Title
Resignation of Non-Independent Non-Executive Director - Mr George Yong-Boon Yeo
Announcement Reference
SG171208OTHRPY1W
Submitted By (Co./ Ind. Name)
Teo La-Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Independent Non-Executive Director - Mr George Yong-Boon Yeo

Additional Details

Name Of Person
George Yong-Boon Yeo
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2017
Detailed Reason (s) for cessation
To comply with the recommendation in the Code of Corporate Governance 2012 (which stipulates that at least 50% of the Board should be independent where the Chairman and CEO are the same person), Mr George Yeo, a Non-Independent Non-Executive Director, who is currently Chairman of Kerry Logistics Network Limited, will be stepping down to make way for the appointment of additional Independent Non-Executive Directors.
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
01/11/2014
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)
4
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-Independent Non-Executive Director
Role and responsibilities
Non-Independent Non-Executive Director
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?
Yes
Shareholding Details
Deemed interest - 210,000 shares
Past (for the last 5 years)
Kerry Group Limited
Present
1) Director of Kerry Holdings Limited
2) Chairman and Executive Director of Kerry Logistics Network Limited ("KLN") and a Director of KLN group of companies
3) Independent Non-Executive Director of AIA Group Limited