Change - Announcement of Cessation::Retirement of Mr Cheong Mun Cheong Alan as Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
OLIVE TREE ESTATES LIMITED
Securities
OLIVE TREE ESTATES LIMITED - SG1EB5000001 - 1H2
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Mar-2025 22:28:25
Status
New
Announcement Sub Title
Retirement of Mr Cheong Mun Cheong Alan as Independent Non-Executive Director
Announcement Reference
SG250319OTHRNXBZ
Submitted By (Co./ Ind. Name)
Daniel Long Chee Tim
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Cheong Mun Cheong Alan as Independent Non-Executive Director.

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. Mah How Soon at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com.

Additional Details

Name Of Person
Cheong Mun Cheong Alan
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
23/04/2025
Detailed Reason (s) for cessation
Mr Cheong Mun Cheong Alan will retire as Independent Non-Executive Director of the Company at the Company's forthcoming annual general meeting to be held on 23 April 2025 due to the 9-year tenure limit for Independent Directors pursuant to Rule 406(3)(d)(iv) of the Catalist Rules of the SGX-ST. Concurrently, Mr Cheong Mun Cheong Alan will relinquish his position as Chairman of the Remuneration Committee ("RC"), a member of the Audit Committee ("AC") and the Nominating Committee ("NC").

Based on its enquiries, the Company's sponsor, RHT Capital Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the retirement of Mr Cheong Mun Cheong Alan as an Independent Non-Executive Director of the Company.

The Board would like to take this opportunity to record their gratitude and appreciation to Mr Cheong Mun Cheong Alan for his valuable contributions to the Board during his term of appointment with the Company. The Board wishes him well in his future endeavours.
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
03/02/2016
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the RC, a member of the AC and the NC
Role and responsibilities
Independent Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Chiu Teng 8 Pte. Ltd.
Present
Savills (Singapore) Pte. Ltd.
WBH Investments Pte. Ltd.