Change - Announcement of Cessation::Cessation as Interim CEO and Re-designation to Non-Executive and Non-Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Feb-2019 17:24:55
Announcement Sub Title
Cessation as Interim CEO and Re-designation to Non-Executive and Non-Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Noraini Latiff
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr. Richard Lee has been re-designated from Executive Director to Non-Executive and Non-Independent Director of the Company with effect from 20 February 2019.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital 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:-

Name: Mr Mah How Soon, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place #29-01, Republic Plaza Tower 1, Singapore 048619
Tel: 6381 6757

Additional Details

Name Of Person
Richard Lee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Richard Lee ("Mr. Lee") has been the interim Chief Executive Officer ("CEO") since January 2018. As the Company has found a suitable candidate to serve as the permanent CEO, Mr. Lee shall transition to be a Non-executive Director. Given Mr. Lee's extensive experience in the investment in media and technology sector, he shall provide direction, guidance and advice to the Group for new business ventures and M&As. He shall also be focusing on other interests and businesses of the wider Spackman Group and remain as a Director of the Group's associated company, Spackman Media Group Limited.

Based on its enquiries the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Lee as the Interim 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?
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.)
Executive Director and Interim CEO
Role and responsibilities
Managing and overseeing the overall business and investments activities of 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?
Shareholding Details
1,013,900 ordinary shares in the Company
Past (for the last 5 years)
Transdermal Asia Holdings Co (formerly known as Wealth Bridge Co., Ltd)
Spackman Media Group Pte. Ltd. (April 2015 to May 2015)
Spackman Media Group Pte. Ltd.
Spackman Equities Group Inc.
Spackman Media Group Limited
Spackman Media Korea Inc.