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

Issuer & Securities

Issuer/ Manager
GALLANT VENTURE LTD.
Securities
GALLANT VENTURE LTD. - SG1T37930313 - 5IG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Feb-2024 17:45:36
Status
New
Announcement Sub Title
Cessation of Non-Executive Director
Announcement Reference
SG240226OTHRJV5J
Submitted By (Co./ Ind. Name)
Choo Kok Kiong
Designation
Executive Director and Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director.

Additional Details

Name Of Person
Dr Tan Chin Nam
Age
74
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Dr Tan has informed the Board that he wishes to retire at the conclusion of the forthcoming Annual General Meeting ("AGM") to be held on 29 April 2024.
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?
Yes
If Yes, Please provide full details
With the retirement of Mr Lim Hock San and Mr Foo Ko Hing at the conclusion of the forthcoming AGM on 29 April 2024, the AC will not have a minimum of 3 members. However, the Board will put up 2 candidates for appointment as Directors at the forthcoming AGM on 29 April 2024 who if appointed as Directors, will be appointed to the AC. The AC will then satisfy the requirement of having a minimum of 3 members.
Date of Appointment to current position
25/05/2009
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-executive Director
Role and responsibilities
Non-executive Director
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?
No
Other Directorships
Past (for the last 5 years)
Yeo Hiap Seng Ltd
Raffles Education Corporation Ltd
Temasek Management Services Pte Ltd
Present
Global Fusion Capital Pte Ltd