Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
MATEX INTERNATIONAL LIMITED
Securities
MATEX INTERNATIONAL LIMITED - SG1P13916389 - M15
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Apr-2025 21:29:06
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG250428OTHR646A
Submitted By (Co./ Ind. Name)
Dr Tan Pang Kee
Designation
Chief Executive Officer / Managing Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Joseph Au at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com.

Additional Details

Name Of Person
Chiang Yao Chong
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2025
Detailed Reason (s) for cessation
Mr. Chiang Yao Chong ("Mr. Chiang") was not re-elected as the Director of the Company at the Annual General Meeting held on 28 April 2025. Accordingly, Mr. Chiang shall cease to be the Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee.

Based on its enquiries, the Company's sponsor, RHT Capital Pte. Ltd., after having interviewed Mr. Chiang and to the best of its knowledge, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Chiang as the Independent Director.

In view of Mr. Chiang s cessation, the Audit Committee ("AC") is not able to meet the requirement of Rule 704(7) of the Catalist Rules, the Companies Act 1967 as well as the Code of Corporate Governance 2018 (the "Code"), where the AC of the Company should, among others, consist of a minimum number of not less than three (3) members. The Company will endeavour to fill the vacancy within two (2) months, but in any case, not later than three (3) months from 28 April 2025. The Company will also, in accordance with the Code, endeavour to fill the vacancies in the Nominating Committee and Remuneration Committee as soon as practicable.
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
01/05/2024
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Audit Committee and member of Nominating and Remuneration Committees
Role and responsibilities
Independent Director, Chairman of Audit Committee and member of Nominating and Remuneration Committees
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)
Nil
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