Change - Announcement of Cessation::RETIREMENT OF DIRECTOR

Issuer & Securities

Issuer/ Manager
CHIP ENG SENG CORPORATION LTD.
Securities
CHIP ENG SENG CORPORATION LTD - SG1H36875612 - C29
CHIPENGSENG S$150M4.25%N171017 - SG6TF0000004 - 18QB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Apr-2016 17:18:07
Status
New
Announcement Sub Title
RETIREMENT OF DIRECTOR
Announcement Reference
SG160422OTHRZUP8
Submitted By (Co./ Ind. Name)
HOON TAI MENG
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Upon the retirement of Mr Lim Tiam Seng as a Director of the Company and his cessation as the Executive Chairman of the Company, Mr Lim is re-designated as Hononary Chairman and Advisor of the Company with effect from 22 April 2016.

Additional Details

Name Of Person
Lim Tiam Seng
Age
78
Is effective date of cessation known?
Yes
If yes, please provide the date
22/04/2016
Detailed Reason (s) for cessation
Mr Lim Tiam Seng retired by rotation at the conclusion of the Company's Annual General Meeting held on 22 April 2016 and although eligible, did not seek re-election. Mr Lim is re-designated as Honorary Chairman and Advisor of the Company.
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
23/10/1998
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 Chairman
Role and responsibilities
Mr Lim is responsible for setting up corporate objectives and strategies, in addition to making decisions for the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
The brother of Mr Lim Tiang Chuan
The father of Ms Dawn Lim Sock Kiang
The father-in-law of Mr Chia Lee Meng Raymond
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 60,499,000 ordinary shares and deemed interest in 17,198,000 ordinary shares in Chip Eng Seng Corporation Ltd.
Past (for the last 5 years)
Chip Eng Seng Corporation Ltd
Present
-