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

Issuer & Securities

Issuer/ Manager
TRICKLESTAR LIMITED
Securities
TRICKLESTAR LIMITED - SGXE45760753 - CYW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Nov-2022 20:03:32
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer
Announcement Reference
SG221101OTHRK54K
Submitted By (Co./ Ind. Name)
Bernard Christopher Emby
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Executive Officer

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 document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Shervyn Essex, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Bernard Christopher Emby
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2023
Detailed Reason (s) for cessation
Mr Bernard Christopher Emby ("Mr Emby") has tendered his resignation as the Chief Executive Officer ("CEO") of the Company. The Company wishes to pursue a business strategy that is less capital intensive and that prioritises risk reduction versus growth in uncertain market conditions.

Mr Emby wishes to pursue opportunities which align more with his skills in new product development and growth in cleantech and renewable energy solutions.

Mr Emby is currently serving his notice period until 28 April 2023. Mr Emby will continue to remain as the Executive Chairman of the Board of Directors (the "Board") and will be working closely with the Board to ensure a smooth transition subsequent to his resignation as CEO. The Company will search for a suitable replacement and will make the necessary announcement in due course. In the interim, Mr Gunananthan Nithyanantham will be appointed as the Acting CEO with effect from 1 November 2022.

After having interviewed Mr Emby 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 reasons for the cessation of Mr Emby as the 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
17/05/2019
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
Responsible for the overall management of the Group, the formulation of strategic direction, managing product development, overseeing manufacturing operations and evaluating potential acquisitions.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest of 25,462,680 ordinary shares and deemed interest in 9,554,846 ordinary shares held by CircleBright Limited.
Past (for the last 5 years)
Nil
Present
1. TrickleStar Limited, Hong Kong
2. TrickleStar Inc. (US)
3. TrickleStar (M) Sdn Bhd
4. PlugLoad Pte. Ltd.
5. CircleBright Limited
6. Zernet Limited
7. ZMCB Sdn Bhd
8. Emby Properties Sdn Bhd