Change - Announcement of Cessation::Retirement of Non-Executive and Lead Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Oct-2022 19:41:24
Announcement Sub Title
Retirement of Non-Executive and Lead Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Goh Kim San
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Ng Tiak Soon as Non-Executive and Lead Independent Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor,
RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST").

This announcement has not been examined or approved by 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 Mr Mah How Soon, Registered Professional, 6 Raffles Quay, #24-02, Singapore 048580,

Additional Details

Name Of Person
Ng Tiak Soon
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
As part of the Board rejuvenation process and good corporate governance practice, Mr Ng Tiak Soon ("Mr Ng") who would have served as Non-Executive and Lead Independent Director of the Company for an aggregate period of nine years on 28 November 2022, will retire earlier from the Board on 31 October 2022, in line with the 9 years rule. Mr Ng will concurrently cease to be the Lead Independent Director, Chairman of Audit Committee and members of the Remuneration and Nominating Committees on 31 October 2022.

The Company's Sponsor, RHT Capital Pte Ltd, after having interviewed Mr Ng, is satisfied that, other than as disclosed in the announcement, there are no other material reasons for the cessation of Mr Ng as a Non-Executive and Lead Independent Director of the Company.

The Board would like to take this opportunity to record their gratitude and appreciation towards Mr Ng's valuable contributions to the Board during his term of appointment with the Company. The Board wishes him well in his future endeavours.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Lead Independent Director, Chairman of Audit Committee and members of Remuneration and Nominating Committees
Role and responsibilities
Carry out the responsibilities and duties as covered in the Listing Manual of Singapore Exchange Securities Trading Limited and terms of reference of the Audit Committee, Remuneration Committee and Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
- 800 Super Holdings Limited
- Parkson Retail Asia Limited
- Kinergy Corporation Ltd
- MDR Limited
- JurongHealth Fund
P J Consultants Pte Limited