Change - Announcement of Cessation::Resignation of Executive Director

Issuer & Securities

Issuer/ Manager
SDAI LIMITED
Securities
SDAI LIMITED - SG2D45972171 - 5TI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Dec-2024 21:21:51
Status
New
Announcement Sub Title
Resignation of Executive Director
Announcement Reference
SG241223OTHRRF9H
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Yip Kean Mun ("Mr Yip") as Executive Director of SDAI Limited (the "Company", and together with its subsidiaries, the "Group")

This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and 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 Ms Yang Zhenni, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Yip Kean Mun
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
01/01/2025
Detailed Reason (s) for cessation
Mr Yip has tendered his resignation as Executive Director of the Company to focus on his personal and other business commitments ("Resignation"). The board of directors of the Company ("Board") has accepted the Resignation.

The Board, having considered that Mr Yip's current role and responsibilities will be assumed by the Chief Executive Officer of the Company with support from the management team of the Company following the Resignation, had on mutual agreement with Mr Yip, agreed that his last day of employment with the Company will be on 31 December 2024.

After having interviewed Mr Yip and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Resignation.
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
26/06/2023
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)
3
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.)
Executive Director
Role and responsibilities
Mr Yip serves as an executive of the Company and oversees the general management of the Company. His responsibilities include initiating, developing and executing the business strategies of the Company while ensuring compliance with relevant laws and regulations.
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?
No
Past (for the last 5 years)
Capital Partners Investment Pte Ltd (struck off)
Genesis Capital Pte Ltd
TOPPS Capital Pte Ltd (formerly known as Addery Investment Pte Ltd)
Asia Advisory Pte Ltd (struck off)
TOPPS Energy Pte Ltd (struck off)
TOPPS Securefood Pte Ltd
Kitchen Culture (Hong Kong) Limited
Present
Bloom Ocean Investments Limited
ACH Investment Pte. Ltd.
Fiscal Holding Pte Ltd
Asia Brand Capital Pte Ltd
Kitchen Culture Sdn Bhd