Change - Announcement of Cessation::Announcement of Cessation_Chief Operating Officer

Issuer & Securities

Issuer/ Manager
STRATECH SYSTEMS LIMITED
Securities
STRATECH SYSTEMS LIMITED - SG1I89885087 - S73

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Jul-2014 23:24:28
Status
New
Announcement Sub Title
Announcement of Cessation_Chief Operating Officer
Announcement Reference
SG140718OTHR8L0N
Submitted By (Co./ Ind. Name)
Leong Sook Ching
Designation
Company Secretary
Effective Date and Time of the event
18/07/2014 23:24:00
Description (Please provide a detailed description of the event in the box below)
Please refer to attachment

Additional Details

Name Of Person
Leo Siang Kwong
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
06/10/2014
Detailed Reason (s) for cessation
The appointment was terminated pursuant to the terms of his letter of appointment. There are no plans to fill this position in the immediate future. This is because the Group's operations have been streamlined to be headed by 2 Directors of Operations in charge of the Group's iVision and Aerospace businesses respectively as part of the realignment of the Group's internal structure and operations.
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
30/01/2013
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)
3
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.)
Chief Operating Officer
Role and responsibilities
This position was responsible for the Company's day-to-day operating activities. The responsibilities include:
1.) Direct Company operations to meet budget and other financial goals;
2.) Direct short-term and long-range planning and budget development to support strategic business goals;
3.) Establish the performance goals, allocate resources and assess policies for senior management;
4.) Demonstrate successful execution of business strategies for Company products and services;
5.) Participate in and support capital market development;
6.) Develop, establish and direct execution of operating policies to support overall Company policies and objectives.
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
1,500,000
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil