Change - Announcement of Cessation::Retirement of an Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
VENTURE CORPORATION LIMITED
Securities
VENTURE CORPORATION LIMITED - SG0531000230 - V03
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2021 18:04:12
Status
New
Announcement Sub Title
Retirement of an Independent Non-Executive Director
Announcement Reference
SG210429OTHRXZ29
Submitted By (Co./ Ind. Name)
Devika Rani Davar
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of Retirement of an Independent Non-Executive Director

Additional Details

Name Of Person
Goon Kok Loon
Age
79
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2021
Detailed Reason (s) for cessation
As set out in the announcement dated 16 April 2021, Mr Goon informed the Company that he did not wish to seek re-election at the Annual General Meeting to be held on 29 April 2021 (AGM) and wished to retire from the Board to devote his attention and resources to personal matters. Accordingly, as Mr Goon was due to retire by rotation in accordance with the Constitution of the Company at the conclusion of the AGM, Mr Goon ceased to be a Director of the Company upon the conclusion of the AGM. Concurrently, Mr Goon ceased to be Chairman of the Audit Committee and a member of the Remuneration Committee and Investment Committee. The reconstitution of these Board Committees will be announced after the close of trading on 29 April 2021.
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
27/02/2004
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)
6
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.)
Independent Non-Executive Director, Chairman of the Audit Committee, Member of the Remuneration Committee and Investment Committee
Role and responsibilities
As above
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
Deemed interest in 5,000 ordinary shares of the issuer
Past (for the last 5 years)
Regal International Group Ltd.
Present
Yongnam Holdings Limited
Global Maritime & Port Services Pte. Ltd.