Change - Announcement of Cessation::Cessation of Prof Ling Chung Yee

Issuer & Securities

Issuer/ Manager
ACE ACHIEVE INFOCOM LIMITED
Securities
ACE ACHIEVE INFOCOM LIMITED - BMG007FR1026 - A75
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Aug-2020 15:14:33
Status
New
Announcement Sub Title
Cessation of Prof Ling Chung Yee
Announcement Reference
SG200802OTHRXNGZ
Submitted By (Co./ Ind. Name)
Soh Yeow Hwa
Designation
Ex Independent Director
Effective Date and Time of the event
08/01/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
Despite numerous reminders given to management to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018

Additional Details

Name Of Person
Ling Chung Yee
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
08/01/2020
Detailed Reason (s) for cessation
Despite numerous reminders given to management to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018
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?
Yes
If Yes, Please provide full details
Despite numerous reminders given to management to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Despite numerous reminders given to management to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Despite numerous reminders given to management to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018
Date of Appointment to current position
31/08/2018
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
0
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.)
Chairman of Nomination and Remuneration Committee and member of the Audit Committee and Board
Role and responsibilities
Non-Executive
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
Past (for the last 5 years)
See Attachments
Present
See Attachments

Attachments

LCY Director Disclosure08Jan2020.pdf
Total size =78K