Change - Announcement of Cessation::Cessation of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
CORTINA HOLDINGS LIMITED
Securities
CORTINA HOLDINGS LIMITED - SG1M59904946 - C41
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jun-2021 12:25:51
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer
Announcement Reference
SG210601OTHR5YM6
Submitted By (Co./ Ind. Name)
Foo Soon Soo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Lim Keen Ban as Chief Executive Officer of the Company.

Additional Details

Name Of Person
Lim Keen Ban
Age
86
Is effective date of cessation known?
Yes
If yes, please provide the date
01/06/2021
Detailed Reason (s) for cessation
Following the acquisition of Sincere Watch Limited and its subsidiaries in March 2021, and under a Group management restructuring, Mr Lim Keen Ban has relinquished his position as CEO of the Company. He will continue as Executive Chairman of the enlarged Cortina Group (including SWL and its subsidiaries). Mr Lim Jit Ming, Deputy CEO takes over from Mr Lim Keen Ban as Group CEO.
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
15/12/1972
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)
5
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.)
Chief Executive Officer
Role and responsibilities
Business strategy formulation and monitor management performance.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Lim Keen Ban is the spouse of substantial shareholder, Mdm Chia Nyok Song@Cheah Yoke Heng, father of substantial shareholder Ms Lim Yin Chian
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed interest of 70,861,425 shares of Cortina Holding Limited
Past (for the last 5 years)
Nil
Present
Ming Yaw Pte Ltd
Lim Keen Ban Holdings Pte Ltd