Change - Announcement of Cessation::Change - Announcement of Cessation

Issuer & Securities

Issuer/ Manager
BLACKGOLD NATURAL RESOURCES LIMITED
Securities
BLACKGOLD NATURAL RESOURCESLTD - SG1AH0000001 - 41H
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Apr-2020 19:23:22
Status
New
Announcement Sub Title
Change - Announcement of Cessation
Announcement Reference
SG200422OTHRVZA9
Submitted By (Co./ Ind. Name)
Andreas Rinaldi
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST 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 Mr David Yeong (Telephone number: +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
GERITE PRIO TRI UTOMO
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2020
Detailed Reason (s) for cessation
Mr Gerite Prio Tri Utomo ( "Mr Utomo" ) had on 20 April 2020, tendered his resignation as the Deputy Chief Financial Officer of the Company. He is resigning to assist with his family business. While Mr Utomo's service agreement requires a 2-months notice period, the Board of Directors and Mr Utomo have agreed to a shorter notice period and Mr Utomo's effective date of cessation is set to be 30 April 2020.

Mr Utomo has confirmed that there are no concerns with regards to financial reporting that led to his cessation and there has not been any disagreement with regard to practices that will have an impact on the Company's financial reporting.

Based on its enquiries, the Company's sponsor, SAC Capital Private Limited, is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Utomo as the Deputy Chief Financial Officer of the Company.

With the departure of Mr Utomo, the Company has engaged an accounting and finance consultant that is based in Singapore to assist with financial reporting matters while Mr Suherman Budiono, the Chief Financial Officer of the Company will continue to oversee financial reporting matters in Indonesia.

The Company expresses its gratitude to Mr Utomo for his valuable contributions during his tenure of service.
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
14/02/2020
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
8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Deputy Chief Financial Officer
Role and responsibilities
Assisting the Company's Chief Financial Officer in the management of the Group's financial matters including accounting, tax analysis, and financial reporting of the Group's operations.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Not applicable
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Not applicable
Present
Not applicable