Change - Announcement of Cessation::Retirement of Non-Independent Director and consequent cessation as Group MD - Mr Ong Choo Eng

Issuer & Securities

Issuer/ Manager
HWA HONG CORPORATION LIMITED
Securities
HWA HONG CORPORATION LIMITED - SG1H85877246 - H19
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Apr-2021 23:35:35
Status
New
Announcement Sub Title
Retirement of Non-Independent Director and consequent cessation as Group MD - Mr Ong Choo Eng
Announcement Reference
SG210420OTHRGMMD
Submitted By (Co./ Ind. Name)
Lee Soo Wei
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Non-Independent Director and consequent cessation as Group Managing Director.

Additional Details

Name Of Person
Ong Choo Eng
Age
77
Is effective date of cessation known?
Yes
If yes, please provide the date
23/04/2021
Detailed Reason (s) for cessation
Mr Ong Choo Eng who had, in accordance with Rule 720(5) of the Listing Manual of the SGX-ST, submitted himself for re-nomination and re-appointment at the forthcoming Annual General Meeting of the Company to be held on 23 April 2021 ("AGM"), has today notified of his personal decision not to seek re-election as Non-Independent Director at the forthcoming AGM.

Accordingly, he will retire as a Non-Independent Director and consequently cease to be Group Managing Director at the conclusion of the AGM.

After the AGM, the Nominating Committee will review the impact arising from the retirement of Mr Ong Choo Eng as a Director of the Company and make appropriate recommendations to the Board.
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?
Yes
If Yes, Please provide full details
Given the above, Resolution 6 will not be tabled at the AGM.
Date of Appointment to current position
15/06/1982
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Director
Role and responsibilities
Manage and oversee the overall operations of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Please refer to appendix A.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest: 903,000 shares in the Company.

Deemed Interest: 80,986,000 shares in the Company.
Past (for the last 5 years)
Please refer to appendix A.
Present
Please refer to appendix A.

Attachments

Appendix A to Cessation Announcement.pdf
Total size =79K