Change - Announcement of Cessation::Cessation of Non-Executive Independent Director who is Chairman of Audit Committee
Issuer & Securities
VICPLAS INTERNATIONAL LTD
VICPLAS INTERNATIONAL LTD - SG1G57870584 - 569
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Non-Executive Independent Director who is Chairman of Audit Committee
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Announcement of cessation of Non-Executive Independent Director who is Chairman of Audit Committee
Name Of Person
Nicos C Nicolaides
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Having held office for close to eight (8) years, Mr Nicolaides felt that it is timely for him to retire. He has decided to step down from the Board after the forthcoming Annual General Meeting of the Company.
Following his resignation, he will also cease as Deputy Chairman of the Board of Directors and Chairman of the Audit Committee effective on 27 November 2014.
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.)
Non-Executive Independent Director
Deputy Chairman of the Board
Chairman of the Audit Committee
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?
Direct - 3,000,000 options
Past (for the last 5 years)
Various in Cyprus
Various in Cyprus