Change - Announcement of Cessation::Resignation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
ALLIED TECHNOLOGIES LIMITED
Securities
ALLIED TECHNOLOGIES LIMITED - SG1O07910928 - A13
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Feb-2019 17:20:00
Status
New
Announcement Sub Title
Resignation of Chief Financial Officer
Announcement Reference
SG190222OTHRV3OU
Submitted By (Co./ Ind. Name)
Low Si Ren, Kenneth
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Financial Officer

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Stamford Corporate Services Pte Ltd (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST and the Sponsor 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 Mr Bernard Lui, Telephone: +65 6389 3000, Email: bernard.lui@morganlewis.com.

Additional Details

Name Of Person
Wong Hon Siong Andrew
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
15/01/2019
Detailed Reason (s) for cessation
Cessation due to mutual agreement.
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?
Yes
If Yes, Please provide full details
The Board was not informed of any differences in opinion on material matters between Andrew Wong and the BOD, nor any matters which would have a material impact on the group or its financial reporting. However, the BOD was made aware that subsequent to his resignation, he had raised some concerns with the auditors and the Sponsor in relation to classification of expenses, documentation processes and the Asia Box Office audit. The Board is currently in the midst of clarifying with the Sponsor and auditors on what these concerns are and will be following up on these issues raised.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
The Sponsor will be following up with the Board, the Audit Committee and the auditors on the issues raised above. Further updates will be provided in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/11/2018
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
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Accounting and Finance Matters of the Group
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
N.A.
Present
N.A.