Change - Announcement of Cessation::Resignation of Executive Director and Chairman

Issuer & Securities

Issuer/ Manager
SUNRISE SHARES HOLDINGS LTD.
Securities
SUNRISE SHARES HOLDINGS LTD. - SG0581008505 - 581
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
04-Apr-2023 01:43:32
Status
New
Announcement Sub Title
Resignation of Executive Director and Chairman
Announcement Reference
SG230404OTHRFMQE
Submitted By (Co./ Ind. Name)
Liang Yongdong
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
The Company's Sponsor, Asian Corporate Advisors Pte. Ltd., was not able to conduct an exit interview as at the date of this announcement given the fact that the notice of and the template announcement for the cessation of Mr. Wong Siu Fai as Executive Director and Chairman of the Company were provided late and the reasons for cessation of Mr. Wong Siu Fai as stated below. Accordingly, should there be any further material information in the course of such interview (when conducted), the Company will make such further announcement(s).

This announcement has been reviewed by the Company's Sponsor, Asian Corporate Advisors 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 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 Ms. Foo Quee Yin, at 160 Robinson Road, #21-05 SBF Center, Singapore 068914, Telephone number: 6221 0271

Additional Details

Name Of Person
Wong Siu Fai
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
03/04/2023
Detailed Reason (s) for cessation
Mr. Wong Siu Fai will step down from the Board of Directors as an Executive Director and Chairman of the Company due to personal health reasons.

Upon the cessation, the role and responsibilities of the Executive Director and Chairman will be undertaken by Mr. Liang Yongdong (Chief Executive Officer) and assisted by the Board of the Company for the interim. In the meantime, the Company is seeking suitable candidate to take over role of Mr. Wong Siu Fai as Executive Director and Chairman.

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
13/09/2019
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)
1
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 Chairman
Role and responsibilities
Mr. Wong Siu Fai is responsible for exploring overseas business opportunities and overseeing the asset management segment of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Wong Siu Fai is the controlling shareholder of the Company.

Mr. Liang Yongdong, the Chief Executive Officer of the Company, is nephew-in-law of Mr. Wong Siu Fai.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr. Wong is the controlling shareholder of the Company and he is deemed interested in 114,364,352 shares held by (a) Sunrise Wealth Management Pte. Ltd. through his 100% interest in the issued share capital of Sino Yu Pte. Ltd. and (b) Prosperity Luck Overseas Inc, through his 100% interest in the issued share capital of Prosperity Luck Overseas Inc.
Past (for the last 5 years)
Union Gate Limited
H Wealth Management Co. Limited
Sunrise Wealth Family Office Pte. Ltd.
New Zealand Luck Star Investment Limited
Present
Sunrise Wealth Management Pte. Ltd.
Hong Kong Sunrise Group Holdings Limited
Aim Billion Investments Ltd
Prosperity Luck Overseas Inc.
Selton International Limited
Lion City Worldwide Limited
Sunrise Investment Management Pte. Ltd
H Asset Management Co. Limited
Zhonglin Investment Pte. Ltd.
Sino Yu Pte. Ltd.
New Zealand Sunrise Development Limited
Sunrise Investment Limited
Hong Kong Sunrise Consultant Limited