Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
MEGACHEM LIMITED
Securities
MEGACHEM LIMITED - SG1O60914015 - 5DS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Mar-2024 07:36:12
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240328OTHRAE4W
Submitted By (Co./ Ind. Name)
Kwok Hwee Peng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent Director - Mr Chan Kam Loon ("Mr Chan")

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Bernard Lim (Tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Chan Kam Loon
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
19/04/2024
Detailed Reason (s) for cessation
Mr Chan Kam Loon ("Mr Chan") will retire from office at the Annual General Meeting of the Company to be held on 19 April 2024. He will relinquish his position as Independent Director, Chairman of the Audit Committee, and a member of the Nominating and Remuneration Committees.

After having interviewed Mr Chan and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr Chan as an Independent Director 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
28/09/2007
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Audit Committee, Member of the Nominating and Remuneration Committees.
Role and responsibilities
Independent Director, Chairman of the Audit Committee, as well as a member of each of the Nominating and Remuneration Committees.
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)
Listed
- OIO Holdings Limited
- Hupsteel Limited
- Sarine Technologies Limited
- Tee International Limited

Non-listed
- 3 Peaks Capital Private Limited
Present
Listed
- Megachem Limited
- Jiutian Chemical Group Limited
- Uni-Asia Group Limited
- Alpha DX Group Limited
- Southern Packaging Group Limited

Non-listed
NIL