Change - Announcement of Cessation::Resignation of Chief Technical Officer

Issuer & Securities

Issuer/ Manager
TRICKLESTAR LIMITED
Securities
TRICKLESTAR LIMITED - SGXE45760753 - CYW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Jul-2023 18:18:36
Status
New
Announcement Sub Title
Resignation of Chief Technical Officer
Announcement Reference
SG230707OTHRSSQ3
Submitted By (Co./ Ind. Name)
Gunananthan Nithyanantham
Designation
Executive Director, Chief Operating Officer and Acting Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance 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 document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
S Krishnan A/L Sinnappan
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
12/07/2023
Detailed Reason (s) for cessation
Mr S Krishnan A/L Sinnappan (hereinafter referred to as Mr S Krishnan), has tendered his resignation as the Company's Chief Technical Officer (CTO). He is currently serving his notice period, which will conclude on 12 July 2023.

The resignation of Mr S Krishnan can be attributed to the following reasons:
1. Dissatisfaction with the working environment under the current management.
2. Exclusion of the CTO from decision-making processes concerning technical and product development aspects.
3. Unwillingness to assume responsibility for technical decisions not endorsed by the CTO.

The Nominating Committee duly notes Mr S Krishnan's concerns. The Board is aware of the potential unease he may have experienced due to recent changes within the Company. Consequently, his resignation was not unexpected. Currently, the Company is not actively seeking a replacement for the CTO position. TrickleStar expresses gratitude for Mr S Krishnan's valuable contributions and dedication during his tenure with the Company.

After having interviewed Mr S Krishnan and the Independent Directors of the Company, the Company's Sponsor, PrimePartner Corporate Finance Pte. Ltd. is satisfied that, to the best of its knowledge, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr S Krishnan as the CTO.
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
01/01/2020
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)
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.)
Chief Technical Officer
Role and responsibilities
Overseeing all technological interests of TrickleStar products, which includes responsibility for research of new products, drafting specifications and managing product design and development.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Holding 217,706 ordinary shares in the Company
Past (for the last 5 years)
Nil
Present
Nil