Change - Announcement of Cessation::Cessation of Executive Director and Removal of Chief Executive Officer - Mr Seah Chong Hoe

Issuer & Securities

Issuer/ Manager
ADVANCED SYSTEMS AUTOMATION LIMITED
Securities
ADVANCEDSYSTEMS AUTOMATION - SGXE59672050 - WJ9
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Jun-2025 01:56:17
Status
New
Announcement Sub Title
Cessation of Executive Director and Removal of Chief Executive Officer - Mr Seah Chong Hoe
Announcement Reference
SG250620OTHRL2J0
Submitted By (Co./ Ind. Name)
LING CHUNG YEE
Designation
Non-Executive Chairman
Description (Please provide a detailed description of the event in the box below)
The Company wishes to announce the resignation of Mr Seah Chong Hoe ("Mr Seah") as an Executive Director of the Company with effect from 19 June 2025.

Following his resignation, the Board of Directors of the Company has, on the same day, terminated Mr Seah's appointment as the Chief Executive Officer of the Company.

The Company wishes to inform that this announcement has been prepared by the Company based on information available to the Company, and it has not obtained Mr Seah's confirmation on the contents of this announcement. As at the date of this announcement, the Company's Sponsor has reached out to Mr Seah but has not been able to conduct an exit interview with Mr Seah.

This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms. Goh Mei Xian, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Seah Chong Hoe
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
19/06/2025
Detailed Reason (s) for cessation
On 19 June 2025, Mr Seah Chong Hoe ("Mr Seah") tendered his resignation as an Executive Director of the Company with immediate effect.

Whilst a resignation letter was handed to, and accepted by the Company, the Company has not received permission for publication of the same. Consequently, please instead refer to the Company's announcement on 17 June 2025 on the "Representations by Mr Seah Chong Hoe and Dato' Sri Mohd Sopiyan Bin Mohd Rashdi in relation to the Extraordinary General Meeting to be held on 19 June 2025".

Following Mr Seah's resignation as Executive Director of the Company, the Board of Directors of the Company has, on the same day, terminated Mr Seah's appointment as Chief Executive Officer of the Company with immediate effect.
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?
Yes
If Yes, Please provide full details
Please refer to the Company's announcement on 17 June 2025 on the "Representations by Mr Seah Chong Hoe and Dato' Sri Mohd Sopiyan Bin Mohd Rashdi in relation to the Extraordinary General Meeting to be held on 19 June 2025".
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company's announcement on 17 June 2025 on the "Representations by Mr Seah Chong Hoe and Dato' Sri Mohd Sopiyan Bin Mohd Rashdi in relation to the Extraordinary General Meeting to be held on 19 June 2025".
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company's announcement on 17 June 2025 on the "Representations by Mr Seah Chong Hoe and Dato' Sri Mohd Sopiyan Bin Mohd Rashdi in relation to the Extraordinary General Meeting to be held on 19 June 2025".
Date of Appointment to current position
17/08/2020
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Primary responsibilities include making major corporate decisions, managing the overall operations and resources, acting as the main point of communication between the Board of Directors of the Company and management of the Company, as well as planning and implementing strategic direction of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
24,045,251 ordinary shares of the Company
Past (for the last 5 years)
Microfits Pte Ltd
Yumei Mould Pte Ltd
Airsanz (SEA) Pte Ltd
Present
Emerald Precision Engineering Sdn Bhd
JGS Holdings Pte Ltd
Yumei Technologies Sdn Bhd
Yumei Reit Sdn Bhd
Pioneer Venture Pte Ltd
Yumei Holdings Pte Ltd
Yumei Plastics Pte Ltd