Change - Announcement of Cessation::Cessation of Allan Yap as Executive Chairman and Director

Issuer & Securities

Issuer/ Manager
HANWELL HOLDINGS LIMITED
Securities
HANWELL HOLDINGS LIMITED - SG1V81937806 - DM0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Sep-2020 22:37:39
Status
New
Announcement Sub Title
Cessation of Allan Yap as Executive Chairman and Director
Announcement Reference
SG200924OTHRXDMN
Submitted By (Co./ Ind. Name)
Chew Kok Liang / Siau Kuei Lian
Designation
Joint Company Secretaries
Description (Please provide a detailed description of the event in the box below)
Cessation of Allan Yap as Executive Chairman and Director of Hanwell Holdings Limited (the "Company")

Additional Details

Name Of Person
Allan Yap
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
23/09/2020
Detailed Reason (s) for cessation
The Company was notified on 23 September 2020 by Singapore Exchange Regulation that Master Glory Group Ltd, which is listed on The Stock Exchange of Hong Kong, has released an announcement on 24 August 2020 providing that Dr Allan Yap has been adjudged a bankrupt by the High Court of Hong Kong on 3 August 2020.

The Company requested for an explanation from Dr Allan Yap on 23 September 2020. The Company received the reply from Dr Allan Yap on 23 September 2020 stating that (i) he expressed his apology on his oversight to notify his updated status to the Company since he has been extremely busy engaged on his other personal commitments (ii) he would like to submit his resignation as an executive chairman of both Hanwell Holdings Limited and Tat Seng Packaging Group Limited with immediate effect and (iii) he confirmed that he has no disagreement with the board and there are no matters to be brought to the attention of the shareholders of both Hanwell and Tat Seng.
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
10/05/2002
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)
4
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.)
Executive Chairman
Role and responsibilities
Executive. Responsible for close oversight, guidance, advice and leadership to the Executive Director, Chief Operating Officer, Management and determining Group strategies.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Tang Cheuk Chee, Executive Director of the Company is the spouse of Allan Yap
Tang Chi Ming, Vice President of Fortune Food Manufacturing Pte Ltd, a direct wholly-owned subsidiary of the Company is the brother-in-law of Allan Yap and brother of Tang Cheuk Chee
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest: 1,000,000 shares of Hanwell Holdings Limited
Deemed interest: 105,663,900 shares of Hanwell Holdings Limited held by his spouse, Tang Cheuk Chee
Past (for the last 5 years)
Please see attached Past Directorships.
Present
Nil Return of Present Directorships

Attachments

Past Directorships.pdf
Total size =174K