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

Issuer & Securities

Issuer/ Manager
ADVENTUS HOLDINGS LIMITED
Securities
ADVENTUS HOLDINGS LIMITED - SG1P24916816 - 5EF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Apr-2023 19:29:18
Status
New
Announcement Sub Title
Retirement of Non-Executive Independent Director
Announcement Reference
SG230413OTHR3Y92
Submitted By (Co./ Ind. Name)
Chin Bay Ching
Designation
Executive Director and Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement had been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant Catalist Rules.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinion made or reports contained in this announcement.

The contact person for the Sponsor is Mr. Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd., 36 Robinson Road, #10-06 City House Singapore 068877, sponsor@rhtgoc.com.

Additional Details

Name Of Person
Gersom G Vetuz
Age
78
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2023
Detailed Reason (s) for cessation
Mr Gersom G Vetuz is subject to retirement as a Director of the Company pursuant to Article 95 of the Company's Articles of Association at the forthcoming Annual General Meeting to be held on 28 April 2023 ("2023 AGM") and do not wish to seek re-election as he has served on the Board as Non-Executive Independent Director from financial year 2008 to year 2022 (both years inclusive). This is also to comply with Rule 406(3)(d)(iv) of the Catalist Rules.

Accordingly, he will retire as a Non-Executive Independent Director, Audit Committee Chairman, Nominating Committee member and Remuneration Committee member at the conclusion of the 2023 AGM.

Based on its enquiries, the Company's sponsor, RHT Capital Pte. Ltd., is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation.

The Company is in the midst of sourcing for the suitable candidate to fill the vacancy so as to meet the requirement of the
Catalist Rules on the minimum number of members in the Audit Committee and to take up the role of Audit Committee chair by 28 June 2023. The Company will update shareholders accordingly once it has appointed a suitable candidate to fill the vacancy.
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
15/09/2008
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director, Audit Committee Chairman, Nominating Committee member and Remuneration Committee member
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
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
2,200,000 ordinary shares in the Company
Past (for the last 5 years)
Nil
Present
Nil (taking into account this cessation)