Change - Announcement of Cessation::CESSATION AS CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
DLF HOLDINGS LIMITED
Securities
DLF HOLDINGS LIMITED - SGXE73993458 - KUX
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Apr-2019 19:49:08
Status
New
Announcement Sub Title
CESSATION AS CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR
Announcement Reference
SG190430OTHR6S79
Submitted By (Co./ Ind. Name)
Manfred Fan Chee Seng
Designation
Executive Chairman
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") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Tan Pei Woon, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Wong Ming Kwong
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2019
Detailed Reason (s) for cessation
Resolution relating to the re-election of Mr Wong Ming Kwong as a Director of the Company was not passed at the annual general meeting of the Company held on 30 April 2019. Accordingly, Mr Wong Ming Kwong has also stepped down as the Chief Executive Officer of the Company with immediate effect.

The Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation of Mr Wong Ming Kwong as the Director of the Company.
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
13/09/2017
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Director
Role and responsibilities
Mr Wong Ming Kwong is responsible for overseeing the business development, corporate strategies and enhancement of the Group's operations, including making strategic business and financial decisions.
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
45,000,000 ordinary shares - 37.16 %
Past (for the last 5 years)
1) Kitchen Agenda Pte. Ltd.
2) ITE Lumens Pte. Ltd.
3) Old Chang Kee Ltd.
4) Sunrise Shares Holdings Ltd.
5) ITE Electric Systems Co Pte. Ltd.
6) Goodland Group Limited
Present
1) Key Elements Consulting Pte. Ltd.
2) Alist Capital Pte. Ltd.
3) Premium Selection Pte. Ltd.
4) Food Agenda Pte. Ltd.
5) Tomonari Pte. Ltd.
6) Wellquest Investment Pte. Ltd.
7) Restyle 360 Pte. Ltd.
8) Wismore Investment Pte. Ltd.
9) Food Link Pte. Ltd.