Change - Announcement of Cessation::Cessation of Vice President of Operations

Issuer & Securities

Issuer/ Manager
IEV HOLDINGS LIMITED
Securities
IEV HOLDINGS LIMITED - SG2D67974808 - 5TN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Sep-2014 17:51:09
Status
New
Announcement Sub Title
Cessation of Vice President of Operations
Announcement Reference
SG140930OTHRPPG0
Submitted By (Co./ Ind. Name)
CHRISTOPHER NGHIA DO
Designation
PRESIDENT AND CEO
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, Canaccord Genuity Singapore Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the 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 Alex Tan, CEO, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.

Additional Details

Name Of Person
Muniandy Thannimalai
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2014
Detailed Reason (s) for cessation
Canaccord Genuity Singapore Pte. Ltd., having interviewed Mr Thannimalai, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Thannimalai as the Vice President of Operations of the Company.

There are no disagreements between him and the Board of Directors pertaining to practices that will have an impact to the Group's operations and financial reporting.

The Board does not expect there will be any negative impact to the Group's operations as Mr Juzer Nomanbhoy, the Vice President of Offshore Engineering Sector will take on the role and responsibilities previously undertaken by Mr Thannimalai.
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
05/01/2012
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Vice President of Operations
Role and responsibilities
Responsible for day-to-day management of the Operations Department in the Offshore Engineering Sector which includes all engineering, procurement and project management activities.
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
100,000 shares in the Company
Past (for the last 5 years)
None
Present
None