Change - Announcement of Cessation::Resignation of Non-Executive Chairman and ID of the Company and a Member of AC, NC, and RC

Issuer & Securities

Issuer/ Manager
CHINA SHENSHAN ORCHARD HOLDINGS CO. LTD.
Securities
CHINA SHENSHAN ORCHARD HLDGS - BMG2860H2096 - BKV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Dec-2021 18:01:01
Status
New
Announcement Sub Title
Resignation of Non-Executive Chairman and ID of the Company and a Member of AC, NC, and RC
Announcement Reference
SG211201OTHRM5K0
Submitted By (Co./ Ind. Name)
Hu Chao
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Tan Siok Sing (Calvin) as Non-Executive Chairman and Independent Director of the Company and a member of the Audit Committee ("AC"), the Nominating Committee ("NC") and the Remuneration Committee ("RC") with effect from 2 December 2021.

Additional Details

Name Of Person
Tan Siok Sing (Calvin)
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
02/12/2021
Detailed Reason (s) for cessation
As stated in the Company's circular to shareholders dated 31 March 2021 ("Circular"), the Board seeks to strike an appropriate balance between tenure of service, continuity of experience and refreshment of the Board. Such refreshment process of the Board will take some time in order to maintain the stability of the Board, and the Board expects to replace two (2) incumbent Independent Directors with new Independent Directors within five (5) months from Completion (as defined below).

On 3 July 2021, all the conditions precedent for the completion of the Proposed Transactions (as defined in the Circular) had been fulfilled and/or waived in accordance with the terms of the Agreement (as defined in the Circular) and the Proposed Transactions had completed on the same day ("Completion").

For more information, please refer to the Company's separate announcement released to the Singapore Exchange Securities Trading Limited on 1 December 2021.

Mr Tan Siok Sing (Calvin) has therefore resigned as a Non-Executive Chairman and Independent Director of the Company with effect from 2 December 2021, in support of and to facilitate the aforementioned Board renewal process. Following his resignation, Mr Tan Siok Sing (Calvin) shall cease to be a member of the AC, the NC and the RC.
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
03/07/2021
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)
2
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.)
Non-Executive Chairman and Independent Director, and a member of the AC, the NC and the RC.
Role and responsibilities
Assumed the roles and responsibilities of a Non-Executive Chairman and Independent Director, and a member of the AC, the NC and the RC.
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)
- Li Heng Chemical Fibre Technologies Limited (delisted from the Main Board on 2 February 2017) (Appointed from December 2007 to March 2017)
- Changtian Plastic & Chemical Limited (delisted from the Main Board on 31 October 2017) (Appointed from April 2008 to October 2017)
- Heya Investment Holding Pte. Ltd.
- Qingmei Group Holdings Limited (delisted from the Main Board on 19 August 2019) (Appointed from December 2009 to August 2019)
- PT Pacific Metalurgi Indo Smelter (pending formal approval of the Indonesian authority)
- Sampaguita Energy Private Limited
Present
- Shong Sing Pte. Ltd.
- Ironman Minerals & Ores Pte. Ltd.
- Ironman International Inc.
- Ironman - JS Investments (La Tahzan) Inc.
- EuroSports Global Limited (listed on the Catalist) (Appointed since November 2013)
- Sunny Max Investment Limited
- Goh Loo (2012) Limited
- Libra Group Limited (listed on the Catalist) (Appointed since January 2020)