Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
AUTAGCO LTD.
Securities
AUTAGCO LTD. - SG1DF7000002 - 1D3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Mar-2026 17:56:36
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG260330OTHRRVXY
Submitted By (Co./ Ind. Name)
Ng Boon Hui
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (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 Lim Qi Fang (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name of person
Soh Chun Bin
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date.
31/03/2026
Detailed reason(s) for cessation
Mr Soh Chun Bin ("Mr Soh") has tendered his resignation as Independent Director of the Company. In the Company's announcement dated 17 March 2026, it was stated in paragraph 7.2 that Icon Law LLC with whom Mr Soh is a director, was engaged as the Company's legal adviser in relation to the Proposed Subscription. Mr Soh is also the cousin of one of the Subscribers, Mr Soh Yeow Hwa.

In view of the above and in the interest of maintaining good corporate governance and transparency, Mr Soh shall, upon his resignation, step down from the Board and relinquish his position as Lead Independent Director and member of Audit Committee and Nominating and Remuneration Committee.

The Company would like to express its gratitude and appreciation towards Mr Soh for his valuable contributions to the Board during his tenure.

The Sponsor, after having interviewed Mr Soh, is satisfied that, save as disclosed in the announcement, there are no material reasons for the resignation of Mr Soh as Independent Director 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?
Yes
If yes, please elaborate.
The auditor of the Company, Grant Thornton Audit LLP, has included a Material Uncertainty Related to Going Concern section on the audited financial statements of the Group for the financial year ended 31 July 2025 ("FY2025"). Please refer to the Company's FY2025 annual report and announcement dated 13 January 2026 for further information.

The Company is in the midst of identifying new director candidates and will endeavour to fill the vacancies in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rules 406(3)(c) and 704(7) of the Catalist Rules and in accordance with the Code of Corporate Governance 2018. The Company will make relevant announcement on the composition of the Board and Board Committees of the Company after such appointment.
Date of appointment to current position
15/04/2025
Job title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Member of Audit Committee and Nominating & Remuneration Committee.
Role and responsibilities
Lead Independent Director, Member of Audit Committee and Nominating & Remuneration Committee.
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of independent directors currently resident in Singapore (taking into account this cessation)
0
Do independent directors make up at least one-third of the board (taking into account this cessation)?
No
Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months
2
Shareholding interest in the listed issuer and its subsidiaries
No
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Other Directorships
Past (for the last 5 years)
Geo Energy Resources Limited
Insights Law LLC
ISOTeam Ltd
Present
Charged Asia Pte. Ltd.
Cloudzen Alpha Pte. Ltd.
Discharged Energy Pte. Ltd.
Hazon Capital Pte. Ltd.
Icon Corpserv Pte. Ltd.
Icon Law LLC
Lorenzo International Limited
Lumix Partners Pte. Ltd.
TOTM Technologies Limited
Triyards Holdings Limited (in liquidation with effect from 24 August 2022)
Yongmao Holdings Limited