Change - Announcement of Cessation::Resignation of Executive Chairman and Interim Group Chief Executive Officer - Mr. Chang Wei Lu

Issuer & Securities

Issuer/ Manager
MERCURIUS CAP INVESTMENT LTD
Securities
MERCURIUS CAP INVESTMENT LTD - SG2B96959558 - 5RF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Sep-2024 18:08:40
Status
New
Announcement Sub Title
Resignation of Executive Chairman and Interim Group Chief Executive Officer - Mr. Chang Wei Lu
Announcement Reference
SG240925OTHR6Z7S
Submitted By (Co./ Ind. Name)
Chang Wei Lu
Designation
Executive Chairman and Interim Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Chang Wei Lu as Executive Chairman and Interim Group Chief Executive Officer ("CEO")

This announcement has been prepared by Mercurius Capital Investment Limited (the "Company") and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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 Mr. Pong Chen Yih, Chief Operating Officer, 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Chang Wei Lu
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
25/09/2024
Detailed Reason (s) for cessation
Mr. Chang Wei Lu ("Mr. Chang") is presently the Executive Chairman and Interim Group CEO of the Company. Following the appointment of Mr. Chu Yun Yuan as Group CEO of the Company and due to Mr. Chang's health reasons, Mr. Chang will relinquish his role as Executive Chairman and Interim Group CEO of the Company. However, Mr. Chang has committed to remain contactable and will provide any required assistance in connection with any inquiries or similar matters, if necessary.

The Nominating Committee ("NC") has, in view of Mr. Chang's health reasons, accepted his resignation as Executive Chairman and Interim Group CEO. Furthermore, the NC believes that the current Board of Directors has sufficient expertise to guide the Company.

The NC further notes that Mr. Chang has committed to remain contactable and will provide any required assistance, and will reach out to Mr. Chang if any such assistance is required.

Based on its enquiries and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr. Chang as Executive Chairman and Interim Group CEO 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
07/02/2024
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.)
Executive Chairman and Interim Group CEO
Role and responsibilities
Mr. Chang is responsible for overseeing the overall business development and general management of the Group, and formulating the Group's strategic directions and expansion plans as Interim Group CEO.
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
As of the date of this announcement, Mr. Chang holds 320,538,834 ordinary shares of the Company
Past (for the last 5 years)
- Mercurius HM Realty Sdn. Bhd.
Present
- Friven & Co. SIngapore Pte. Ltd.
- MCB Holdings Sdn. Bhd.
- Friven (Malaysia) Sdn. Bhd.
- Vicmark Manufacturing Sdn. Bhd.
- Friven & Co. Lifestyle Sdn. Bhd.