Change - Announcement of Cessation::RETIREMENT OF LEAD INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
OXPAY FINANCIAL LIMITED
Securities
OXPAY FINANCIAL LIMITED - SGXE15822534 - TVV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Apr-2026 00:11:15
Status
New
Announcement Sub Title
RETIREMENT OF LEAD INDEPENDENT DIRECTOR
Announcement Reference
SG260413OTHREQ1G
Submitted By (Co./ Ind. Name)
Chin Mun Chung
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name of person
Kesavan Nair
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date.
28/04/2026
Detailed reason(s) for cessation
Mr Kesavan Nair has informed the Board of his wish to retire as Director of the Company at the close of the annual general meeting of the Company on 28 April 2026 in view of the nine year tenure limit for independent directors prescribed under Rule 406(3)(d)(iv) of the Catalist Rules and to facilitate renewal of the Board.

After having interviewed Mr Kesavan Nair 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 Mr Kesavan Nair's retirement.

The Board is actively identifying and will appoint a new Independent Director in place of Mr Kesavan Nair to ensure that the Company complies with the Board composition requirements.

The Board would like to thank Mr Kesavan Nair for his invaluable contribution during his tenure with 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
05/05/2017
Job title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee
Role and responsibilities
Assumed the role and responsibilities of Lead Independent Director, Chairman of the Remuneration Committee and member of the Audit Committee and Nominating Committee
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
Do independent directors make up at least one-third of the board (taking into account this cessation)?
Yes
Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months
1
Shareholding interest in the listed issuer and its subsidiaries
No
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Other Directorships
Past (for the last 5 years)
Bacui Technologies International Ltd. (formerly known as Arion Entertainment Singapore Limited)

HG Metal Manufacturing Limited

Medi Lifestyle Limited (formerly IEV Holdings Limited)
Present
Bayfront Law LLC