Change - Announcement of Cessation::RETIREMENT AS INDEPENDENT DIRECTOR
Issuer & Securities
ADVANCED SYSTEMS AUTOMATION LIMITED
ADVANCED SYSTEMS AUTOMATION - SG2E65980228 - 5TY
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
RETIREMENT AS INDEPENDENT DIRECTOR
Submitted By (Co./ Ind. Name)
DATO' SRI MOHD SOPIYAN B MOHD RASHDI
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST 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 Tay Sim Yee (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA
Tower, Singapore 048542.
Name Of Person
DR KENNETH YU KEUNG YUM
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Dr Kenneth Yu Keung Yum will not seek re-election at the annual general meeting ("AGM"), and will accordingly retire as a Director upon the conclusion of the AGM. Dr Kenneth Yu is retiring as Director to facilitate Board renewal as he has served as an Independent Director for 10 years. In addition, he would like to focus more time on his other commitments.
The Company is in the process of selecting a candidate to be appointed as independent director in place of Dr Kenneth Yu and will make the announcement of the new independent director in due course.
The Sponsor, after having interviewed Dr Kenneth Yu, is satisfied that save as disclosed, there are no other material reasons for the retirement of Dr Kenneth Yu as 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Nominating Committee Chairman
Audit Committee Member
Remuneration Committee Member
Role and responsibilities
Non-executive and Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
ASTI Holdings Limited
Sky1 Technology Limited
World Bright Enterprise Limited
Dragon Group International Limited
Sky Master Corporation Ltd
Envoy1 Technology Corp