Change - Announcement of Cessation::Demise of Non-Executive Independent Director (also member of ARC)

Issuer & Securities

Issuer/ Manager
JARDINE CYCLE & CARRIAGE LIMITED
Securities
JARDINE CYCLE & CARRIAGE LTD - SG1B51001017 - C07
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Jan-2025 17:17:35
Status
New
Announcement Sub Title
Demise of Non-Executive Independent Director (also member of ARC)
Announcement Reference
SG250124OTHR94CO
Submitted By (Co./ Ind. Name)
Jeffery Tan Eng Heong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Demise of Non-Executive Independent Director (also member of ARC)

Additional Details

Name Of Person
Mikkel Larsen
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
23/01/2025
Detailed Reason (s) for cessation
Mikkel Larsen passed away suddenly on 23rd January 2025. The Board is deeply saddened by his passing and remembers him for his contributions during his tenure.

The Board and management of Jardine Cycle & Carriage extend our heartfelt condolences to his family.
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?
Yes
If Yes, Please provide full details
In view of the unexpected demise of Mikkel Larsen, the Board is not majority-independent and the Audit & Risk Committee falls below the minimum of three members. The Company is cognizant of and will ensure compliance with the requirements of SGX's Listing Rules and the Code of Corporate Governance on these aspects. Further updates will be provided in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/01/2024
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director, Member of the Audit & Risk Committee
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
- Integrity Council for the Voluntary Carbon Market
- United for Wildlife Financial Taskforce
- GRI Stakeholder Council
- Green Finance Working Group [Workstream Chair] under the Monetary Authority of Singapore (MAS)'s Financial Centre Advisory Panel (FCAP)
- Singapore's Environment and Resources Standards Committee (ERSC)
- The Global Compact Network Singapore (GCNS)
Present
- Director of Birdlife International (Asia) Limited
- Director of Climate Impact X Pte. Ltd.
- Director of Verified Impact Exchange Holdings Pte. Ltd.
- Representative Member of Merkur Andelskasse
- Senior Sustainability Advisor of Mizuho Financial Group, Inc
- EXCO Member of Natural Climate Solutions Alliance (NCS Alliance)
- EXCO Member of Singapore Sustainable Finance Association
- Advisory Group Member of Voluntary Carbon Markets Integrity Initiative (VCMI)
- Advisor of Wildlife Works
- Member of World Business Council for Sustainable Development (WBCSD)
- Advisor of World Wildlife Fund (WWF) Singapore