Change - Announcement of Cessation::Resignation of Non-Executive and Lead Independent Director, Mr Ong Beng Chye

Issuer & Securities

Issuer/ Manager
CAPALLIANZ HOLDINGS LIMITED
Securities
CAPALLIANZ HOLDINGS LIMITED - SG1H44875935 - 594
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Jun-2022 19:35:04
Status
New
Announcement Sub Title
Resignation of Non-Executive and Lead Independent Director, Mr Ong Beng Chye
Announcement Reference
SG220628OTHR1RLC
Submitted By (Co./ Ind. Name)
Pang Kee Chai, Jeffrey
Designation
Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive and Lead Independent Director, Mr Ong Beng Chye.

This announcement has been prepared by CapAllianz Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor (the "Sponsor"), ZICO Capital Pte. Ltd., in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03, Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Ong Beng Chye
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
29/06/2022
Detailed Reason (s) for cessation
Having considered the strengthened balance sheet of CapAllianz Holdings Limited (the "Company") and its subsidiaries (the "Group") following the completion of various corporate exercises such as the settlement of outstanding credit facility and the placement exercises in the current financial year, Mr Ong Beng Chye ("Mr Ong") tendered his resignation as the Non-Executive and Lead Independent Director of the board of directors of the Company (the "Board") ("Resignation") to allow for Board rejuvenation which would be beneficial for the Group and the Company's shareholders.

Following the Resignation, Mr Ong will also cease to be the Chairman of the Audit Committee of the Company as well as a member of the Remuneration Committee and the Nominating Committee of the Company.

After having interviewed Mr Ong and to the best of its knowledge, the Company's Sponsor, ZICO Capital Pte. Ltd. is satisfied that save as disclosed in this announcement, there are no other material reasons for the Resignation.
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
11/08/2016
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Lead Independent Director, Chairman of Audit Committee as well as a member of the Nominating Committee and Remuneration Committee.
Role and responsibilities
Assumed the roles and responsibilities of the Non-Executive and Lead Independent Director, Chairman of the Audit Committee as well as a member of the Nominating Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 4,968,200 shares of the Company and 992,050 warrants of the
Company
Past (for the last 5 years)
1. Gem Accounting Pte. Ltd.
2. Heatec Jietong Holdings Ltd.
3. Kitchen Culture Holdings Ltd.
4. Shin-Omi International Pte. Ltd.
Present
1. Alpina Holdings Limited
2. Geo Energy Resources Limited
3. Hafary Holdings Limited
4. IPS Securex Holdings Limited
5. ES Group (Holdings) Limited
6. Appleton Global Private Limited
7. Gem Corp Services Pte. Ltd.