Change - Announcement of Cessation::Retirement of Chief Financial 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
02-Jul-2020 20:21:59
Status
New
Announcement Sub Title
Retirement of Chief Financial Officer
Announcement Reference
SG200702OTHR3XY1
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)
TrickleStar Limited (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 18 June 2019. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").

This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor in accordance with Rules 226(2)(b) and 753(2) of the SGX-ST Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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 Mr. Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Lai Wan Ming
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
15/07/2020
Detailed Reason (s) for cessation
Mr Lai Wan Ming ("Mr Lai") had indicated earlier in the year, he was seeking to reduce his work hours at the Company's convenience. Under Mr Lai's terms of employment, an official notice period of 6 months is required to terminate the employment by either party. Mr Lai has requested to be granted reduced hours for personal reasons, and the Company and Mr Lai have jointly agreed in writing to a shortened notice period, and full time employment will cease as of July 31, 2020. Mr Lai will subsequently move to a part-time employment contract based on 2 days a week till, at least, December 31, 2020 to help facilitate the transfer of duties to a new CFO who has been identified, and will officially take over the CFO duties on July 15, 2020.

After having interviewed Mr Lai 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 Lai as the Chief Financial Officer.

In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr Lai, and there are no disagreements between Mr Lai and the Company's Board of Directors with regards to practices that will have an impact on the Company's financial reporting.
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
01/06/2018
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Mr Lai is responsible for the management of the accounts and finance departments of the Group, overseeing the monthly management reporting of the Group and review of the financial results of the Group.
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)
Nil
Present
Nil