Change - Announcement of Cessation::Cessation of Non-Executive Director
Issuer & Securities
IPS SECUREX HOLDINGS LIMITED
IPS SECUREX HOLDINGS LIMITED - SG1BJ0000005 - 42N
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Non-Executive Director
Submitted By (Co./ Ind. Name)
Kelvin Lim Ching Song
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by IPS Securex Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (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 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 persons for the Sponsor are Mr. Khong Choun Mun, Managing Director, Equity Capital Markets and Mr. David Tham, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6533 9898.
Name Of Person
Ong Chin Hin
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Ong Chin Hin has relinquished his role as the Non-Executive Director of IPS Securex Holdings Limited (the "Company" and, together with its subsidiaries, the "Group") to focus on his other work commitments outside of the Group.
The Company's sponsor, United Overseas Bank Limited (the "Sponsor"), after having interviewed Mr. Ong Chin Hin, is not aware of any material reasons relating to his cessation as Non-Executive Director which would have an adverse impact on 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?
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.)
Role and responsibilities
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?
Direct interests: 20,790,000 ordinary shares in the Company.
Past (for the last 5 years)
IPS Securex Holdings Limited
IPS Securex Pte. Ltd.
Eco-Wiz Aqua Pte. Ltd.
Eco-Wiz Group Pte. Ltd.
Eco-Wiz Mfg (S) Pte. Ltd.
Eco-Wiz (SG) Pte. Ltd.
Eco-Wiz Thailand Co., Ltd.
Storebaelt Engineering Pte. Ltd.
IPS Leasing Pte. Ltd.
IPS Group Pte. Ltd.
IPS Perfex Holdings Pte. Ltd.
Perfex International Private Limited
Perfex Heat Transfer Sdn Bhd
Powersource International Pte. Ltd.
Europower Technology Pte. Ltd.
IPS Technologies Pte. Ltd.
IPS-Lintec Asia Pacific Pte. Ltd. (Alternate Director)
Linnhoff India Pvt. Ltd. (Alternate Director)