Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
MONEYMAX FINANCIAL SERVICES LTD.
Securities
MONEYMAX FINANCIAL SERVICESLTD - SG2G06995143 - 5WJ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Apr-2016 21:17:31
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG160428OTHRKOGN
Submitted By (Co./ Ind. Name)
Lim Yong Guan
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by 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.

The 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.

Additional Details

Name Of Person
Ong Seh Hong
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2016
Detailed Reason (s) for cessation
Dr. Ong Seh Hong (Dr. Ong) has voluntarily retired and did not seek re-election at the annual general meeting of the Company held on 28 April 2016 to facilitate for the down-sizing of the Board, following the resignation of Mdm. Lim Liang Eng as Executive Director of the Company on 6 August 2016. Following his retirement, Dr. Ong has ceased to be the Chairman of the Nominating Committee, and member of the Audit and Remuneration Committees.

The sponsor of the Company, United Overseas Bank Limited ("Sponsor"), after having interviewed Dr. Ong, is not aware of any material reasons relating to his retirement 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?
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
27/06/2013
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, and member of Audit Committee and Remuneration Committee
Role and responsibilities
Duties of Independent Director and as covered in terms of reference of the Nominating Committee, Audit Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
25,000 shares
Past (for the last 5 years)
None
Present
Dyna-Mac Holdings Ltd, Zhongmin Baihui Retail Group Ltd and Hock Lian Seng Holdings Limited