Change - Announcement of Cessation::Cessation of Non-Executive Independent Chairman

Issuer & Securities

Issuer/ Manager
BOLDTEK HOLDINGS LIMITED
Securities
BOLDTEK HOLDINGS LIMITED - SG2F47989262 - 5VI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Jun-2023 18:10:08
Status
New
Announcement Sub Title
Cessation of Non-Executive Independent Chairman
Announcement Reference
SG230619OTHR3LMD
Submitted By (Co./ Ind. Name)
PHUA LAM SOON
Designation
CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Pao Kiew Tee as Non-Executive Independent Chairman with effect from 1 July 2023.

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 ( "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. Leong Weng Tuck, Registered Professional, RHT Capital Pte. Ltd. 36 Robinson Road, #10-06, Singapore 068877, sponsor@rhtgoc.com.

Additional Details

Name Of Person
Pao Kiew Tee
Age
72
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2023
Detailed Reason (s) for cessation
The Board agreed to accept Mr Pao Kiew Tee ( Mr "Pao" ) resignation as Non-Executive Independent Chairman of the Company with effect from 1 July 2023 due to health reasons and having served more than 9 years since he was appointed to comply with Rule 406(3)(d)(iv) of the Catalist Rules. There is no notice period required to be served by him. Accordingly, Mr Pao will cease to be the Chairman of the Audit Committee and a member of the Nominating and Remuneration Committees.

After having interviewed Mr Pao and to the best of its knowledge, the Company s Sponsor, RHT Capital Pte. Ltd., is satisfied that, other than disclosed in this announcement, there are no other material reasons for the resignation of Mr Pao as Non-Executive Independent Chairman 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?
No
Date of Appointment to current position
24/12/2012
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Chairman, Chairman of Audit Committee and a member of the Remuneration and Nominating Committees
Role and responsibilities
Non-Executive Independent Chairman, Chairman of Audit Committee and a member of the Remuneration and Nominating Committees
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
New Silkroutes Group Limited
ZJM International Pte Ltd
ZJM Motors Pte Ltd
Mary Chia Holdings Limited
Present
Wong Fong Industries Limited