Change - Announcement of Cessation::REDESIGNATION AS EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
CAPITAL WORLD LIMITED.
Securities
CAPITAL WORLD LIMITED. - KYG8763X1189 - 1D5
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Dec-2022 21:21:40
Status
New
Announcement Sub Title
REDESIGNATION AS EXECUTIVE DIRECTOR
Announcement Reference
SG221220OTHRO8MH
Submitted By (Co./ Ind. Name)
Siow Chien Fu
Designation
Executive Director & Chief Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Siow Chien Fu (Mr Siow) as Chief Executive Officer (CEO) of the Company.

Additional Details

Name Of Person
Siow Chien Fu
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
03/01/2023
Detailed Reason (s) for cessation
Mr Siow Chien Fu ("Mr Siow") has tendered his resignation as the Chief Executive Officer ("CEO") of the Group with effect from 3 January 2023 to facilitate management refresh and in view of the Group's focus moving forward. Mr Siow will continue to remain as the Executive Director of the Board. As announced by the Company separately, Mr Hoo Khee Leng, the Executive Director, will take over the role and responsibilities as a CEO.

After having interviewed Mr Siow 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 Siow as CEO 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
04/05/2017
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Responsible for the strategy setting and management and operations of the Group and Company.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
661,745,713 shares or 4.64 per cent
Other Directorships
Past (for the last 5 years)
1. Baiduri Megaria Sdn Bhd
2. Bestari Bestmart Sdn Bhd
3. Bintang Simfoni Sdn Bhd
4. Capital City Frontier Sdn Bhd
5. Eco Associates Sdn Bhd
6. Eco Tree Hotel Sdn Bhd
7. Express Inn Sdn Bhd
8. First Star Venture Limited
9. RDC Arkitek (KL) Sdn Bhd
10. RDC Arkitek Sdn Bhd
11. RDCA Holdings Sdn Bhd
12. Ruby Resources Sdn Bhd
13. Zillion Enrich Sdn Bhd
Present
1. Altimate Ventures Limited
2. Capital City Management Pte Ltd
3. Capital City Property Sdn Bhd
4. Capital City Ventures Sdn Bhd
5. CEP Resources Entity Sdn Bhd
6. Rise Expedition Global Limited
7. Sri Pelanji Sdn Bhd
8. Terratech Resources Pte Ltd