Change - Announcement of Cessation::Cessation of Mr Ang Kok Huan as Executive Director

Issuer & Securities

Issuer/ Manager
BEVERLY JCG LTD.
Securities
BEVERLY JCG LTD. - SGXE87511171 - VFP
BEVERLY JCG LTD. W240531 - SGXN45682170 - WZ2W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Jun-2021 12:21:04
Status
New
Announcement Sub Title
Cessation of Mr Ang Kok Huan as Executive Director
Announcement Reference
SG210630OTHRPFUW
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST 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 Vanessa Ng (Telephone: +65 6389 3065 and Email: vanessa.ng@morganlewis.com).

Additional Details

Name Of Person
Ang Kok Huan
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
29/06/2021
Detailed Reason (s) for cessation
The Nominating Committee is of the view that it would be better for there to be majority independence on the Board, in compliance with the Code of Corporate Governance. Following the cessation of Mr Ang as Executive Director of the Company, Non-Executive Directors and Independent Directors would make up majority of the Board. To comply with the Code of Corporate Governance in the most cost-efficient manner, it was decided that Mr Ang would step down. Regardless of his cessation as a Director, the Board of Directors, with Dato Ng Tian Sang and Howard Ng (as the Executive Directors) and the three Independent Directors, together with management, would still be able to run and manage the company effectively. As such, Mr Ang who was due for rotation at the Annual General Meeting, chose not to stand for re-election. In any event, Mr Ang will continue to serve the Group as part of the management of the Group. He will not be appointed as an Executive Officer at this point in time.

Based on its enquiries, the Company's sponsor, Stamford Corporate Services Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ang Kok Huan as Executive Director 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
01/06/2020
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.)
Executive Director, Chairman of Risk Management Committee and Member of Nominating Committee.
Role and responsibilities
Mr Ang Kok Huan is responsible for regional market developments. Following his cessation as Executive Director, Mr Ang will serve as Business Director for the Group's China markets to assist the Company to grow and develop potential business collaborations with business partners from China.

Mr Ang will remain as part of the management but not as an executive officer of the Group following his cessation as 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?
Yes
Shareholding Details
145,900,000 direct shares
Past (for the last 5 years)
- ANGUS Asset Management Pte Ltd
- ANGUS F&B Pte Ltd
- ANGUS International Holdings Pte Ltd
- Brand X Lab Pte Ltd
- iMyth Taiwan Limited
- Beverly Ipoh Sdn Bhd
Present
- Albedo Corporation Pte Ltd
- JCG Health Pte Ltd
- JCG-Beverly Pte Ltd
- CMIC Hemodialysis Pte Ltd
- China iMyth Company Pte Ltd
- Beverly Wilshire Medical Centre Sdn Bhd
- Beverly Wilshire Medical (JB) Sdn Bhd
- Beverly Wilshire Tropicana City Mall Sdn Bhd
- Beverly Wilshire Cosmetic Surgery Centre Sdn Bhd
- Beverly Wilshire Medical Academy and Research Centre Sdn Bhd
- Beverly Wilshire Hair Transplant Sdn Bhd
- Natasha Beverly Sdn Bhd
- Beverly Dentistree Sdn Bhd
- Natasha Beverly Dental Sdn Bhd
- DS Beverly Sdn Bhd