Change - Announcement of Cessation::Cessation of Non-Executive and Independent Director - Mr. Sanjiv Misra

Issuer & Securities

Issuer/ Manager
OLAM GROUP LIMITED
Securities
OLAM GROUP LIMITED - SGXE65760014 - VC2
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Oct-2022 20:57:26
Status
New
Announcement Sub Title
Cessation of Non-Executive and Independent Director - Mr. Sanjiv Misra
Announcement Reference
SG221031OTHR9ORN
Submitted By (Co./ Ind. Name)
Michelle Tanya Kwek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation as Non-Executive and Independent Director.

Additional Details

Name Of Person
Sanjiv Misra
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
31/10/2022
Detailed Reason (s) for cessation
Mr. Sanjiv Misra ("Mr Misra") joined the Olam International Limited ("OIL") Board as Non-Executive and Independent Director on 1 November 2013 and consequent to the re-organisation of OIL, was appointed to the Olam Group Limited Board on 15 March 2022. Mr Misra was Chair of the Capital and Investment Committee and member of the Board Risk Committee and the Nomination and Remuneration Committee. During his tenure as Director, Mr Misra contributed actively in all Board discussions and strengthening of the governance framework and processes of the Board Committees. He played an integral role when OIL transit into the new operating groups in an effort to unlock and maximise shareholder value.


The stepping down of Mr Misra from the Board is in line with the formal plan for the on-going renewal of the Board put in place by the Board. Mr Misra completed his 9 years tenure with the Board (including his appointment with OIL) on 31 October 2022.

The Board thanked Mr Misra for his invaluable commitment and contribution during his tenure with 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?
No
Date of Appointment to current position
15/03/2022
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-Executive and Independent Director
Chair, Capital and Investment Committee
Member, Board Risk Committee and Nomination & Remuneration Committee
Role and responsibilities
As 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
141,353 ordinary shares in Olam Group Limited
Past (for the last 5 years)
Edelweiss Financial Services Ltd
Edelweiss Capital (Singapore) Pte Ltd
National University Health System
Olam International Limited
Present
Apollo Global Management, LLC
Phoenix Advisers Pte. Ltd.
EDBI Pte Ltd
Singapore Symphonia Company Limited
Clifford Capital Pte. Ltd.
Bayfront Infrastructure Management Pte. Ltd.
Clifford Capital Holdings Pte. Ltd.
Clix Capital Services Pvt. Ltd.
Partners Capital Investment Group Holdings LLP
Partners Capital Investment Group Holdings LLC