Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Nov-2022 19:03:06
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG221107OTHRVNFV
Submitted By (Co./ Ind. Name)
Yao Liang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "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 Sheila Ong, Registered Professional, W Capital Markets Pte Ltd, 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3543.

Additional Details

Name Of Person
Zhan Shu
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
30/11/2022
Detailed Reason (s) for cessation
Mr Zhan has decided to resign as an Independent Director as he has recently been devoting majority of his time to his technical consulting engagements, many of which are based out of remote areas lacking reliable tele-communication facilities, which have made it difficult for him to attend meetings / discussions and fulfil his duties as a director of the Company.

The Sponsor, having spoken to Mr Zhan, is satisfied that, other that as disclosed in this announcement, there are no other material reasons for the resignation of Mr Zhan.
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
03/02/2020
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director, Chairman of Nominating Committee, AC Member, RC Member, and Member of Shen Yao Performance Award Committee
Role and responsibilities
To perform the functions of Non-Executive Independent Director, and to fulfil the duties and responsibilities of the Chairman of the Nominating Committee, and a member of the Audit Committee, Remuneration Committee and the Shen Yao Performance Award Committee.
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?
No
Past (for the last 5 years)
Nil
Present
African Energy Metals Inc. (formerly known as Central African Gold Inc.)