Change - Announcement of Cessation::Retirement of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
LHN LIMITED
Securities
LHN LIMITED - SG1AH9000002 - 41O
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Jan-2025 22:25:54
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director
Announcement Reference
SG250124OTHR5SIG
Submitted By (Co./ Ind. Name)
Chong Eng Wee
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Yong Chee Hiong as Independent Non-Executive Director of the Company.

Additional Details

Name Of Person
Yong Chee Hiong
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
24/01/2025
Detailed Reason (s) for cessation
Pursuant to Rule 210(5)(d)(iv) of the SG Mainboard Rules read with Paragraph 2.1 of SGX-ST Transitional Practice Note 4 on Transitional Arrangements regarding the Tenure Limit for Independent Directors, as of the date of an issuer s annual general meeting for the financial year ending on or after 31 December 2023, a director (whether independent, executive or non-executive) who has served on the board of an issuer for an aggregate period of nine years will no longer be eligible to be designated as an independent director of the issuer.

Mr. Yong Chee Hiong was appointed as Independent Non-Executive Director on 10 March 2015 and has served as Independent Non-Executive Director for more than nine years. As a result, following the conclusion of the AGM, Mr. Yong Chee Hiong will no longer be considered independent and will retire at the AGM without seeking re-election.

Accordingly, at the conclusion of the AGM, Mr. Yong Chee Hiong will step down as the chairman of the Nominating Committee and a member of the Remuneration Committee and Audit Committee.
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
10/03/2015
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-executive Director, Chairman of the NC, member of the AC and RC of the Group.
Role and responsibilities
As described above.
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)
Nil
Present
Mr. Yong Chee Hiong is currently a Managing Partner of Equity & Land LLP.