Change - Announcement of Cessation::Cessation of Executive Director
Issuer & Securities
COSMOSTEEL HOLDINGS LIMITED
COSMOSTEEL HOLDINGS LIMITED - SG1V08936188 - B9S
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Director
Submitted By (Co./ Ind. Name)
Ong Chin Sum
Chief Executive Officer and Executive Director
Effective Date and Time of the event
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Director
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Usui was appointed to the Board at the nomination of Hanwa Co. Ltd. (Hanwa), the Company's controlling shareholder, pursuant to the terms of a strategic alliance agreement dated 1 December 2014 entered into between Hanwa and the Company. The Board has received notification from Hanwa that Mr Usui will be relocating back to Japan, and hence will be resigning from 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Role and responsibilities
Assistant to the Chief Executive Officer of the Company (CEO), with, including but not limited to, the following duties:
1) Expanding the Company s business, such as business for Japanese customers, where Hanwa has a strength in;
2) Expanding the Company s international business through collaboration with Hanwa s global network;
3) Facilitating the communication with Hanwa to foster a strategic alliance;
4) Assisting in the procurement function of the Group within the guidelines established by the Board and report to the CEO of the Company;
5) Developing and recommending to the CEO the strategic directions for the Group s procurement functions;
6) Developing and implementing policies and procedures to enhance the effectiveness and efficiency of the procurement functions of the Group and to ensure that these policies and procedures are ISO compliant;
7) Carrying out any other duties as may be delegated by the Board and/or the CEO from time to time;
in pursuance of his duties hereunder perform such services for any existing or future subsidiary or subsidiaries of the Company and without further remuneration (unless otherwise agreed) accept such offers in any such companies as the Board may from time to time reasonably require.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)