Change - Announcement of Cessation::Resignation of Chief Executive Officer (CEO)

Issuer & Securities

Issuer/ Manager
CHARISMA ENERGY SERVICES LIMITED
Securities
CHARISMA ENERGY SERVICES LTD - SG2B54957198 - 5QT
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Jul-2024 18:08:17
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer (CEO)
Announcement Reference
SG240723OTHRIU98
Submitted By (Co./ Ind. Name)
Tan Ser Ko
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Tan Ser Ko as Chief Executive Officer of the Company.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Center, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Tan Ser Ko
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
14/10/2024
Detailed Reason (s) for cessation
With the Company's debt restructuring efforts nearing completion and the business sale expected to be finalised within the next two (2) months, Mr Tan intends to step down to devote more time to his personal endeavours.

As Mr Tan has a three (3) months notice period, he is informing the Company of his resignation now. With his last day in October 2024, Mr Tan hopes that this will also allow the Company to look for a suitable replacement.

Notwithstanding, with reference to the Company's Disposal exercise outlined in the Company's circular dated 13 June 2024, given Mr Tan's extensive involvement in this exercise, he has indicated his willingness to assist the Company to ensure its successful completion in the event of any delay.

The Board of the Company wishes to take this opportunity to thank Mr Tan for his services to the Company and the Group during his tenure and wishes him well in his future endeavours.

After having interviewed Mr Tan and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Tan as the Chief Executive Officer.
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
01/10/2014
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer
Role and responsibilities
Responsible for overseeing the strategic planning, corporate management, daily operations, business development and performance of the Group.
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
52,500,000 options to subscribe ordinary shares of the Company
Past (for the last 5 years)
1. Alpha DX Group Limited & its subsidiaries
2. Charisma Energy Services Limited
3. Conquest Energy Pte. Ltd. (In Liquidation)
4. JK E&P Group Pte. Ltd. (In Liquidation)
5. Rising Bhadla 1 Private Limited
6. Rising Bhadla 2 Private Limited
7. Rising Sun Energy Private Limited
Present
1. Anchor Marine Inc.
2. Anchor Marine 2 Inc.
3. Anchor Marine 3 Inc.
4. Anchor Offshore Services Inc.
5. Aus Am Pte. Ltd.
6. Bhadla Solar Investments Pte. Ltd.
7. Centennial Capital Pte. Ltd.
8. CES Green Power S.A. Pte. Ltd.
9. CES Hydro Power Group Pte. Ltd.
10. CES Hydro Power (SL) Limited
11. CES Oil Services Pte. Ltd.
12. CES Yichang Pte. Ltd.
13. CESL Capital Pte. Ltd. (Dissolved)
14. CESL Investments Pte. Ltd.
15. Grenzone Pte. Ltd.
16. Henosis Investments Pte. Ltd. (Struck Off)
17. Saems Capital II B.V.
18. Strategic Equipment Inc.
19. Xin Rong Rong Pte. Ltd.
20. Yichang Smartpower Green Electricity Co., Ltd.