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

Issuer & Securities

Issuer/ Manager
UNITED ENGINEERS LIMITED
Securities
UNITED ENGINEERS LTD ORD - SG1K25001639 - U04
UNITED ENGINEERS 7.5% CUM PREF - SG2K18002445 - U05
UTDENGINEERSS$150M3.68%N210601 - SG73B3000008 - 4D9B
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Jan-2020 07:40:45
Status
New
Announcement Sub Title
Announcement of Cessation of Non-Independent and Non-Executive Director
Announcement Reference
SG200121OTHR13UY
Submitted By (Co./ Ind. Name)
Gwendolyn Gn Jong Yuh
Designation
Group Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Non-Independent and Non-Executive Director

Additional Details

Name Of Person
Mr Pua Seck Guan
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
20/01/2020
Detailed Reason (s) for cessation
As disclosed in the Offer Announcement issued on 25 October 2019 by DBS Bank Ltd., for and on behalf of Yanlord Investment (Singapore) Pte. Ltd., relating to the UEL Offers, it was agreed that Mr Pua Seck Guan will resign as a Non-Independent and Non-Executive Director of United Engineers Limited on the earliest date on which such resignation is permitted under Rule 6.3 of The Singapore Code on Take-overs and Mergers.

The Board of Directors is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Pua Seck Guan as a Non-Independent and Non-Executive Director of United Engineers Limited.
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
12/09/2017
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)
3
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-Independent and Non-Executive Director and Member of the Remuneration Committee
Role and responsibilities
As set out 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
2,750,000 3.68% per annum Fixed Rate Notes due 2021
Past (for the last 5 years)
Please refer to Annexure 2.
Present
Please refer to Annexure 1.

Attachments

PSG-Current_List_of_Directorships_Annexure_1.pdf
PSG-Past_List_of_Directorships_Annexure_2.pdf
Total size =555K