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

Issuer & Securities

Issuer/ Manager
MEGACHEM LIMITED
Securities
MEGACHEM LIMITED - SG1O60914015 - 5DS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Jun-2020 17:19:25
Status
New
Announcement Sub Title
Resignation of Non-Executive Non-Independent Director
Announcement Reference
SG200622OTHR8MWK
Submitted By (Co./ Ind. Name)
Kwok Hwee Peng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement 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 announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Tay Sim Yee (tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Tatsuyuki Sakoda
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2020
Detailed Reason (s) for cessation
Mr Tatsuyuki Sakoda is resigning from the Board of Directors due to his appointment to a new role in Chori Co. Ltd, a controlling shareholder of the Company. The sponsor after having interviewed Mr Tatsuyuki Sakoda, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Tatsuyuki Sakoda as Non-Executive Non-Independent 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
01/03/2019
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Director
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
He is an employee and a nominee director of Chori Co., Ltd, who is a 29.99% shareholder of Megachem Limited.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Non-listed
P.T. Chori Indonesia
Chori Europe Gmbh
Chori Co., Hong Kong
Chori Commercial De Mexico SA De CV
Chori Korea Co., Ltd
Chori America, Inc
Chori China Co., Ltd
P.T Matsuoka Industries Indonesia
Present
Non-listed
Miyako Kagaku Co., Ltd