Change - Announcement of Cessation::CESSATION OF FINANCIAL CONTROLLER
Issuer & Securities
CAPITAL WORLD LIMITED.
CAPITAL WORLD LIMITED. - KYG8763X1189 - 1D5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF FINANCIAL CONTROLLER
Submitted By (Co./ Ind. Name)
Siow Chien Fu
Executive Director & Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have 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"). The Exchange 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. Gillian Goh, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, firstname.lastname@example.org.
Name Of Person
Foo Chuan Biao
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Foo has resigned to pursue other opportunities and is currently serving his notice until 2 November 2020. The Company has identified a candidate to fill the position of Financial Controller and is in the process of assessing and finalising the appointment. A further announcement will be made as and when the appointment has been confirmed and finalised.
After having interviewed Mr Foo 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 Foo as the Financial Controller.
In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr Foo and there are no disagreements between Mr Foo and the Company's Board of Directors with regard to practices that will have an impact on the Company's financial reporting.
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.)
Financial Controller of the Company
Role and responsibilities
Mr Foo is in charge of the financial and accounting functions of the Company and the Group.
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?
Past (for the last 5 years)
Industrial Power (Thailand) Co. Ltd