Change - Announcement of Cessation::Cessation of Chief Operating Officer
Issuer & Securities
AYONDO LTD. - SG1ED1000001 - 1I5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Chief Operating Officer
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Operating Officer - Mr Edward Charles Drake
ayondo Ltd. (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 26 March 2018. The initial public offering of the Company was sponsored by UOB Kay Hian Private Limited (the "Sponsor").
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the relevant rules of the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not independently verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement.
The contact person for the Sponsor is Mr Gregory Wee Toon Lee, Assistant Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.
Name Of Person
Edward Charles Drake
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Following the completion of the disposal of ayondo Markets Limited, the Company received a formal cessation notification that Mr Edward Drake will cease to be the Chief Operating Officer of the Group with effect from 13 June 2019.
The Company's Sponsor, UOB Kay Hian Private Limited, having interviewed Mr Edward Drake, is not aware of any material reasons for the cessation of Mr Edward Drake as the Chief Operating Officer of the Group.
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.)
Chief Operating Officer
Role and responsibilities
Executive. Mr Edward Drake is responsible for the day-to-day management of ayondo Markets Limited's operational hub in London, trading and market risk management, group operations and compliance. He is also responsible for data management, data evaluation and data monetisation.
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)
ayondo Markets Limited