Change - Announcement of Cessation::Resignation 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
29-Dec-2023 17:27:12
Status
New
Announcement Sub Title
Resignation of Executive Director
Announcement Reference
SG231229OTHRSYNR
Submitted By (Co./ Ind. Name)
Yoo Loo Ping
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance 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 Ms Lim Hui Ling, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Tan Boon Siang
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
01/04/2024
Detailed Reason (s) for cessation
Mr Tan Boon Siang ("Ricky") has been with the company for more than 40 years hence he feels that it is timely for him to step down at this juncture and retire to focus on his other interests.

After having interviewed Ricky and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reason for the resignation of Ricky as 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
Responsible for the management and supervision of the land and marine-based firefighting and protection business.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Brother of Tan Boon Kheng (Group Managing Director) and Tan Boon Yew (Director of Asiatic Fire System Pte Ltd).
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Holding 322,533,600 Ordinary Shares in the Company.
Past (for the last 5 years)
None
Present
1. Asiatic Fire System Pte Ltd
2. Colben System Pte Ltd
3. Colben Energy (Singapore) Pte. Ltd.
4. Colben Energy Holdings (Maju Intan) Ltd