Change - Announcement of Cessation::Cessation of Non-Executive Director
Issuer & Securities
PACIFIC STAR DEVELOPMENT LIMITED
PACIFIC STAR DEVELOPMENT LTD - SG1DE5000007 - 1C5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Non-Executive Director
Submitted By (Co./ Ind. Name)
CEO & Managing Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director
This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (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 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 Mr David Yeong Kai Xiong (tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Name Of Person
Tan Hai Peng Micheal
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Tan Hai Peng Micheal ("Mr Tan") had expressed his desire to step down as a board member of the Company and to focus on his primary work commitments. With the additions of new members to the Board as announced on 4 June 2019, Mr Tan is of the view that it is an appropriate time to step down and let the new Board lead the Company moving forward.
The Sponsor, after having interviewed Mr Tan, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Tan as a Non-Executive Director of the Company.
The Company expresses its gratitude to Mr Tan for his valuable contributions during his tenure of service.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Deemed interest in 24,000,678 shares in the Company held by Ho Lee Group Pte. Ltd.
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