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

Issuer & Securities

Issuer/ Manager
STAMFORD TYRES CORPORATION LIMITED
Securities
STAMFORD TYRES CORPORATIONLTD - SG1O53913362 - S29
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Aug-2023 06:46:37
Status
New
Announcement Sub Title
Retirement of Non-Executive and Independent Director
Announcement Reference
SG230808OTHR9NT6
Submitted By (Co./ Ind. Name)
Michelle Heng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Non-Executive and Independent Director

Additional Details

Name Of Person
Leslie Mah Kim Loong
Age
79
Is effective date of cessation known?
Yes
If yes, please provide the date
31/08/2023
Detailed Reason (s) for cessation
As part of the Board renewal process, Mr Leslie Mah Kim Loong will be retiring by rotation pursuant to Regulation 111 of the Constitution of Stamford Tyres Corporation Ltd ("STCL"). The Board and Management of STCL would like to express their gratitude to Mr Leslie Mah for his invaluable contributions and guidance to the Board and the Stamford Tyres Group. Upon his retirement from the Board at the conclusion of the annual general meeting to be held on 31 August 2023, Mr Leslie Mah will also step down as Chairman of the Audit Committee and a member of both the Remuneration and Nominating Committees.
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
01/12/2012
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Audit Committee; member of the Remuneration Committee; member of the Nominating Committee
Role and responsibilities
Non-Executive and Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
1,150,000 shares (direct interest)
Past (for the last 5 years)
Nil
Present
1) Hotel Properties Limited
2) Lam Soon (M) Bhd