Change - Announcement of Cessation::RESIGNATION OF MR TOMI-JAE WANLUN TJIO AS EXECUTIVE CHAIRMAN

Issuer & Securities

Issuer/ Manager
PINE CAPITAL GROUP LIMITED
Securities
PINE CAPITAL GROUP LIMITED - SG1AA8000008 - ADJ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Nov-2019 14:40:02
Status
New
Announcement Sub Title
RESIGNATION OF MR TOMI-JAE WANLUN TJIO AS EXECUTIVE CHAIRMAN
Announcement Reference
SG191125OTHRXEVU
Submitted By (Co./ Ind. Name)
DAVID SARKIS
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Tomi-Jae Wanlun Tjio as Executive Chairman of Pine Capital Group Limited (the "Company").

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Asian Corporate Advisors Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement, including the correctness of any of the figures used, statements or opinions made. Kindly note that the Company's Sponsor has not conducted an exit interview as at the date of this announcement and accordingly, should there be any further material information in the course of such interview (when conducted), the Company will be required make such further announcement(s) and the Board will be required address and announce its comments and responses as well as the Sponsor's queries for the responses.

This announcement has not been examined or approved by 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 Mr Liau H.K.
Telephone number: 6221 0271

Additional Details

Name Of Person
TOMI-JAE WANLUN TJIO
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
22/11/2019
Detailed Reason (s) for cessation
Personal matters
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
12/09/2019
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
8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and a member of the Remuneration Committee
Role and responsibilities
Overall leadership to enhance the effectiveness and performance of the Board and act as an adviser to the key management team.

Assist with developing the Company's corporate strategy, building a pipeline of potential merger and acquisition transactions, growing the Company's market profile and establishing new corporate relationships; foster ethical and responsible decision-making by the Board, Board Committees, and the individual Directors, working in conjunction with management to lead the Company in its relationships with shareholders and financial institutions, reviewing plans, defining issues, maintain accountability and in any marketing efforts that would allow to effectively position the Company with investors to facilitate growth; and ensure the implementation of the management succession and development plans.
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?
No
Past (for the last 5 years)
Cue (Singapore) Hotel Management Pte Ltd
Smart Media Pte Ltd
Digital Communications Media Private Limited
Nenking Metals (Singapore) Pte Ltd
Urban9z (S) Pte Ltd
Pine Capital Group Limited
Present
Puxun (Singapore) Private Limited
First Legacy Sdn Bhd
Cue Hotel (Malaysia) Management Sdn Bhd
Asia Prestige Travels Pte Ltd
Pine Ventures Management Pte Ltd
Pinnacle Asia Pacific Pte Ltd