Change - Announcement of Cessation::CESSATION OF EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
SWEE HONG LIMITED
Securities
SWEE HONG LIMITED - SG2E77981776 - QF6

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Apr-2014 18:07:16
Status
New
Announcement Sub Title
CESSATION OF EXECUTIVE DIRECTOR
Announcement Reference
SG140423OTHR4EF9
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Upon Mr Ong Keng Huat's cessation as a Director of the Company, he shall remain as an employee of the Company in the position of senior project director.

The number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months does not include the cessation of Mr Ong Kah Lam announced today.

The Audit Committee has a minimum of 3 members as it has been reconstituted pursuant to the appointment of Mr Lawrence Chen Kee Yeong as Independent Director of the Company today, 23 April 2014. The announcement relating to the composition of the Audit Committee will also be released today, 23 April 2014.

The initial public offering of the shares in the Company was jointly managed by DMG & Partners Securities Pte Ltd (DMG) and China Construction Bank Corporation, Singapore Branch (CCB). DMG and CCB assume no responsibility for the contents of this announcement.

Additional Details

Name Of Person
Ong Keng Huat
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
23/04/2014
Detailed Reason (s) for cessation
To refresh the composition of the Board
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
31/03/2008
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
7
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Executive Director responsible for the management of the Company's projects
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Son of Ong Hur Seng who is a substantial shareholder of the Company.

Nephew of Ong Hoi Lian who is a substantial shareholder, and Ang Siew Kee and Neo Sock Kim who are within the 20 largest shareholders of the Company.

Cousin of Ong Hock Leong who is the Managing Director and Executive Director of the Company, and a Director of Sun Hup Development Pte Ltd, a principal subsidiary of the Company.

Cousin of Ong Kah Lam who also ceases to be a Director of the Company on the same day and Ong Eng Hoe and Ong Siew Ching who are within the 20 largest shareholders of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest: 12,000 ordinary shares
Past (for the last 5 years)
Kolee Corporation Pte Ltd (as alternate director)
Present
Dalian Shicheng Property Development (S) Pte. Ltd., Dalian Shizheng Property Development Co. Ltd., Hong Ee Corporation Pte. Ltd., Sunalliance Assets Co. Inc.