Change - Announcement of Cessation::Retirement of Non-Executive Director at Annual General Meeting
Issuer & Securities
AYONDO LTD. - SG1ED1000001 - 1I5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Retirement of Non-Executive Director at Annual General Meeting
Submitted By (Co./ Ind. Name)
Foong Daw Ching
Lead Independent Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Non-Executive Director at Annual General Meeting - Dr Foo Fatt Kah
This announcement has been prepared by ayondo Ltd. (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.
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 Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.
Name Of Person
Foo Fatt Kah
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Dr Foo Fatt Kah ("Dr Foo") is subject to retirement pursuant to Regulation 117 of the Company's Constitution at the Company's forthcoming Annual General Meeting for the Financial Year Ended 31 December 2020 to be held on 28 April 2021 (the "AGM").
Dr Foo will not be seeking re-election at the AGM as he wants to spend more time on his own business and his retirement from the Board as a Non-Executive Director of the Company will take effect upon the conclusion of the AGM. Following Dr Foo's retirement as Non-Executive Director of the Company, he shall cease to be a member of the Audit and Risk Committee, effective at the conclusion of the AGM.
The Sponsor, after having interviewed Dr Foo, is not aware of any material reasons for the retirement of Dr Foo as the Non-Executive 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?
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.)
Non-Executive Director, Audit and Risk Committee Member
Role and responsibilities
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?
Direct Interest: Dr Foo holds 6,688,057 ordinary shares in the Company.
Deemed Interest: Dr Foo is a director and shareholder of Luminor Capital Pte. Ltd. ("Luminor Capital"), the fund manager of Luminor Pacific Fund 2 Ltd. ("LPF2") which manages LPF2 on a discretionary basis. Dr Foo holds 50% of the share capital of Luminor Capital, and accordingly, is deemed to have an interest in the 44,514,009 ordinary shares of the Company held by LPF2 by virtue of the percentage of shares held by him in the share capital of Luminor Capital.
Past (for the last 5 years)
1. Anchor Resources Limited
2. ayondo Asia Pte. Ltd.*
3. King Wai Group Pte. Ltd.
4. Luminor Capital Australia Pty Ltd
5. Luminor Fixed Income SPC*
6. Luminor Harbour Fund 1 Pte. Ltd.*
7. Maida Vale Associates Pte. Ltd.*
1. Accentvest Sdn Bhd (under voluntary liquidation)
2. Amira Properties Sdn Bhd (under voluntary liquidation)
3. Higgs11 Capital VCC
4. Luminor Capital Pte. Ltd.
5. Luminor Pacific Fund 1 Ltd. (under voluntary liquidation)
6. Luminor Pacific Fund 2 Ltd.
7. LCPL Partners VCC
8. Multiple Lodge Sdn. Bhd.
9. PEC Ltd.
10. Variscan Mines Ltd.
11. Venture Music Asia Ltd
Other Principal Commitment:
Luminor Capital Pte. Ltd. - Managing Director