Change - Announcement of Cessation::CESSATION OF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
PS GROUP HOLDINGS LTD.
Securities
PS GROUP HOLDINGS LTD. - SG2F90994508 - 5WD
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Feb-2019 17:34:48
Status
New
Announcement Sub Title
CESSATION OF EXECUTIVE OFFICER
Announcement Reference
SG190215OTHRHF9P
Submitted By (Co./ Ind. Name)
Teo Choon Hock
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company s sponsor, CIMB Bank Berhad, Singapore Branch (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not independently 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 correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Tan Cher Ting, Director, Investment Banking, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone (65) 6337 5115.

Additional Details

Name Of Person
Lim Kwang Seng Edwin ("Mr Edwin Lim")
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
15/02/2019
Detailed Reason (s) for cessation
Mr Edwin Lim was appointed as the Managing Director of PS Components Pte. Ltd. ("PSC") and an executive officer of PS Group Holdings Ltd (the "Company") on 26 February 2015.

In connection with the disposal by the Company of its interest in the issued and paid-up share capital of PSC (as separately announced by the Company today), Mr Edwin Lim shall cease to be an executive officer of the Company with immediate effect.

Based on its enquiries, the Company's Sponsor, CIMB Bank Berhad, Singapore Branch, is satisfied that save as disclosed in this announcement, there is no other material reason for the cessation of appointment of Mr Edwin Lim.
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
26/02/2015
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.)
Managing Director of PS Components Pte. Ltd.
Role and responsibilities
Responsible for the operations and business development of PS Components Pte. Ltd.
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
30,000 shares in the Company
Past (for the last 5 years)
CIMA Marketing Pte Ltd
Galant Fastech Sdn Bhd
Present
PS Components Pte Ltd