Change - Announcement of Cessation::Cessation of Non-Executive and Non-Independent Chairman
Issuer & Securities
ELEKTROMOTIVE GROUP LIMITED
ELEKTROMOTIVE GROUP LIMITED - SG2F80993502 - 5VU
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Non-Executive and Non-Independent Chairman
Submitted By (Co./ Ind. Name)
NG KAI MAN
Description (Please provide a detailed description of the event in the box below)
Please see attached.
This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of the Catalist. The Sponsor has not verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
Name Of Person
RICKY ANG GEE HING
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Ricky Ang Gee Hing is of the view that he will not be able to fulfill the duties of Non-Executive and Non-Independent Chairman of the Company due to his other commitments.
Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Ang as Non-Executive and Non-Independent Chairman.
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.)
Non-Executive and Non-Independent Chairman
Role and responsibilities
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?
Mr Ang holds 16,726,548 shares in the Company. As Mr Ang owns 50% of the Fontana Investments Pte Ltd, he is deemed to be interested in the 4,793,538 shares in the Company held by Fontana Investments Pte Ltd.
Past (for the last 5 years)
Panpac Marketing & Circulation Pte Ltd
Lifestyle Magazines Publishing Pte Ltd
TLG Specialist Magazines Pte Ltd
TLG Properties Pte Ltd
Smartinvestor Pte Ltd
Lexicon F&B Pte Ltd
E-Motive (Asia) Pte Ltd
MOB Holdings Pte Ltd
Romulus Holdings Pte Ltd
Tom N Toms International Pte Ltd
Tom N Toms Retail Pte Ltd
Boardroom Venture Pte. Ltd.
Auston Technology Group Pte Ltd
Elektromotive Group Limited
Inovatif Media Asia Sdn Bhd
Panpac Tech Strategic Ltd
Fontana Investments Pte Ltd
Wine & Dine Experience Pte Ltd