Change - Announcement of Cessation::Cessation of Liu Haifeng David as Non-Executive Director

Issuer & Securities

Issuer/ Manager
SUNPOWER GROUP LTD.
Securities
SUNPOWER GROUP LTD. - BMG8585U1027 - 5GD
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Feb-2022 21:21:44
Status
New
Announcement Sub Title
Cessation of Liu Haifeng David as Non-Executive Director
Announcement Reference
SG220225OTHR4IIT
Submitted By (Co./ Ind. Name)
Ma Ming
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Liu Haifeng David as Non-Executive Director

Additional Details

Name Of Person
Liu Haifeng David
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
25/02/2022
Detailed Reason (s) for cessation
Mr Liu is stepping down to allow Ms Wang Guannan to replace him as Non-Executive and Non-Independent Director. Mr Liu is the Executive Chairman of DCP Capital, and Ms Wang is a Director of DCP Capital, a reowned private equity firm in China and a bondholder of the Company. The change is part of DCP Capital's internal process of executive succession in nurturing its investments in its investee companies.
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
10/11/2017
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Member of Nominating Committee and Remuneration Committee
Role and responsibilities
Non-Executive and Non-Independent Director
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)
None
Present
January 2017 - Present: Executive Chairman, DCP Capital
October 2019 - Present: Non-Executive Director, Strategy and Investment Committee (Chairman), Far East Horizon Limited (Listed on Hong Kong Exchange)
December 2020 - Present: Director, Hotwon Network Group Inc.