Change - Announcement of Cessation::Re-designation to Non-Executive Non-Independent Chairman and Member of Audit Committee

Issuer & Securities

Issuer/ Manager
AMPLEFIELD LIMITED
Securities
AMPLEFIELD LIMITED - SG1AG0000003 - AOF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Jan-2025 22:27:55
Status
New
Announcement Sub Title
Re-designation to Non-Executive Non-Independent Chairman and Member of Audit Committee
Announcement Reference
SG250122OTHRH2ZY
Submitted By (Co./ Ind. Name)
Woon Ooi Jin
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Re-designation to Non-Executive Non-Independent Chairman and Member of Audit Committee.

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 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 Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Albert Saychuan Cheok
Age
74
Is effective date of cessation known?
Yes
If yes, please provide the date
22/01/2025
Detailed Reason (s) for cessation
Mr Albert Saychuan Cheok ("Mr Cheok") has been an Independent Director of the Company for an aggregate period of more than nine years. Pursuant to Rule 406(3)(d)(iv) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the "Catalist Rules"), Mr Cheok is no longer eligible to be designated as an Independent Director of the Company and has been re-designated as the Non-Executive Non-Independent Chairman of the Company following the conclusion of the annual general meeting of the Company held on 22 January 2025 ("AGM").

Upon recommendation of the Nominating Committee ("NC"), the Board has determined that Mr Cheok 's continued involvement as the Non-Executive Non-Independent Chairman would be highly beneficial for the Company and its shareholders, by providing continuity, valuable insight, and expertise that supports the Company's long-term strategy and governance.

As such, the Board approved the re-designation of Mr Cheok from the Independent Chairman to the Non-Executive Non-Independent Chairman. Mr Cheok has also stepped down from his role as the Chairman of the Audit Committee ("AC") and continues to serve as a member of the NC, AC and Remuneration Committee ("RC") of the Company after the conclusion of the AGM. The Board considers Mr Cheok to be non-independent for the purposes of Rule 704(7) of the Catalist Rules.

Mr Cheok had abstained from the deliberations and decision-making in relation to his re-designation.

After having interviewed Mr Cheok and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no other material reasons for the re-designation of Mr Cheok as the Non-Executive Non-Independent Chairman 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
25/11/2009
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Chairman, Chairman of AC and Member of RC and NC (prior to the re-designation disclosed in this announcement)
Role and responsibilities
Non-Executive
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
Amplefield Limited - 500,000 ordinary shares
Other Directorships
Past (for the last 5 years)
Peppermint Innovation Ltd, 5G Networks Limited and MC Payment Limited
Present
China Aircraft Leasing Group Holdings Ltd, Supermax Corporation Berhad and Forbidden Foods Limited