Change - Announcement of Cessation::Resignation of Executive Director and Chief Executive Officer
Issuer & Securities
Issuer/ Manager
H2G GREEN LIMITED
Securities
H2G GREEN LIMITED - SG1I98885227 - 5AI
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-May-2025 20:24:57
Status
New
Announcement Sub Title
Resignation of Executive Director and Chief Executive Officer
Announcement Reference
SG250527OTHR1PZB
Submitted By (Co./ Ind. Name)
Mak Yen-Chen Andrew
Designation
Non-Executive Chairman and Independent Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director and Chief Executive Officer - Mr Lim Shao-Lin
This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"). It 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 document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Joseph Au at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com.
Additional Details
Name Of Person
Lim Shao-Lin
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
31/05/2025
Detailed Reason (s) for cessation
The Board of Directors ("Board") of H2G Green Limited ("Company", together with its subsidiaries, collectively the "Group") has accepted the resignation of Mr Lim Shao-Lin ("Mr Lim") as an Executive Director and the Chief Executive Officer ("CEO") of the Company with effect from 31 May 2025 due to personal reasons, particularly to devote more time to his personal affairs. As a controlling shareholder of the Company, he is of the opinion that it is the appropriate time now and in the interests of shareholders for the Company to be managed by an external professional hire with extensive leadership experience in an oil major and public sector boards. The Board respects Mr Lim's decision, and extends its gratitude for his years of service as an Executive Director and the CEO. Following Mr Lim's resignation, he will remain as a director of Green Energy Investment Holding Private Limited and act as an adviser to Gashubunited Utility Private Limited, focusing on offering advice relating to technical expertise and operational guidance to the Group's subsidiaries, and assisting the Group to broaden its business networks in Southeast Asia.
To ensure a smooth leadership transition, Mr Pek Hak Bin ("Mr Pek") has been appointed as the new CEO of the Company with effect from 1 June 2025. Mr Lim will be working closely with Mr Pek to facilitate the handover of Mr Lim's duties and responsibilities, ensuring continuity in the operations of the Group.
Based on its enquiries and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Lim as an Executive Director and the CEO 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
29/07/2019
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and CEO
Role and responsibilities
Executive. Mr Lim is responsible for the overall performance, strategic direction, and business development of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Spouse of Ms Leow Sau Wan, Executive Director of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
1. Mr Lim holds 163,699,808 ordinary shares in the share capital of the Company ("Shares").
2. Mr Lim is deemed to be interested in all the 409,672,131 Shares held by Gashubunited Holding Private Limited under Section 7 of the Companies Act 1967 of Singapore and Section 4 of the Securities and Futures Act 2001 of Singapore, as Mr Lim Shao-Lin holds 60.25% shareholding interest in Gashubunited Holding Private Limited.
Past (for the last 5 years)
1. ASL Forestry Pte Ltd
2. Gashub Pte Ltd
3. Gashubin Engineering Private Limited
4. Gashubin Technology Private Limited
5. Gashubunited Utility Private Limited
6. LIMSL Investments Pte. Ltd
7. LNG Hub Private Limited
8. P5 Design Ventures Pte. Ltd.
9. P5 Luminaire Pte. Ltd.
10. P5 Pte. Ltd.
11. Proton Power Pte. Ltd.
12. PT. Indo Global Green Energy One
13. STL Panay Resources Pte Ltd (fka GashubUnited (SEA) LNG Pte Ltd)
14. Superstudio Lifestyle Pte. Ltd. (f.k.a. P5 Studio Pte. Ltd.)
Present
1. Avier Engineering Pte Ltd
2. Gashubunited Utility Private Limited
3. GEIH Bioenergy Sdn. Bhd.
4. Green Energy Investment Holding Private Limited
5. Green Waste Company Private Limited
6. H2G Green Sdn. Bhd.
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