Change - Announcement of Cessation::Resignation of Executive Director cum Chief Executive Officer (China)

Issuer & Securities

Issuer/ Manager
TERRATECH GROUP LIMITED
Securities
TERRATECH GROUP LIMITED - KYG8763X1007 - 40I
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Nov-2016 00:26:42
Status
New
Announcement Sub Title
Resignation of Executive Director cum Chief Executive Officer (China)
Announcement Reference
SG161114OTHRIP4G
Submitted By (Co./ Ind. Name)
Dr Loh Chang Kaan
Designation
Executive Director cum Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Joseph Au, Senior Manager, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 62298088.

Additional Details

Name Of Person
Zhan Ping
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
11/11/2016
Detailed Reason (s) for cessation
Following the Company's strategic review, Mdm Zhan Ping will discontinue as the Executive Director cum Chief Executive Officer (China) of the Company.

Mdm Zhan Ping has given the Group the benefit of her extensive and invaluable experience, and the Company wishes to record its deep appreciation for her numerous contributions to the Group over the years.

Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, otherwise as disclosed in this announcement, there are no material reasons for the cessation of Mdm Zhan Ping as an Executive Director cum Chief Executive Officer (China) 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
21/10/2014
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director cum Chief Executive Officer (China)
Role and responsibilities
Executive position.

Mdm Zhan Ping was responsible for the following in China:-

(1) Designing the overall sales and marketing strategy and policies, as well as assessing business performance.

(2) In charge of the development of the regulation and rules of the Company management, designing standardized working process.

(3) Providing data support and analysis report for important decisions. Monitoring the business operation and forecasting the market trends.
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
Past (for the last 5 years)
None.
Present
None.