Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
ARION ENTERTAINMENT SINGAPORE LIMITED
Securities
ARION ENTERTAINMENT SPORE LTD - SGXE42663133 - YYB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Jul-2023 19:43:16
Status
New
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
SG230706OTHRNRLG
Submitted By (Co./ Ind. Name)
Ng Kai Man
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Kesavan Nair ("Mr. Nair") as Independent Non-Executive Director, Chairman of the Nominating Committee, and member of the Audit Committee and Remuneration Committee.

This announcement has been reviewed by the Company's Sponsor, PrimePartners Corporate Finance 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 Ms Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Kesavan Nair
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
31/07/2023
Detailed Reason (s) for cessation
Mr. Nair, who has served on the Board for more than 10 years, will step down from the Board to facilitate Board renewal. Accordingly, Mr. Kesavan Nair will relinquish his role as Independent Non-Executive Director of the Company and his position as Chairman of the Nominating Committee and member of the Audit Committee and Remuneration Committee.

After having interviewed Mr. Nair and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Nair as an Independent Non-Executive Director 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
14/02/2013
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the Nominating Committee, and member of the Audit Committee and Remuneration Committee.
Role and responsibilities
The role and responsibilities as an Independent Non-Executive Director, Chairman of the Nominating Committee, and member of the 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
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
300,000 shares
Other Directorships
Past (for the last 5 years)
- Kitchen Culture Holdings Ltd
- HG Metal Manufacturing
Limited
Present
- Medi Lifestyle Limited
- OX Pay Financial Limited
(formerly known as MC
Payment Limited)