Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
ACE ACHIEVE INFOCOM LIMITED
Securities
ACE ACHIEVE INFOCOM LIMITED - BMG007FR1026 - A75
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Aug-2020 22:12:53
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG200802OTHRJUN7
Submitted By (Co./ Ind. Name)
Deng Zhelin
Designation
Executive Chairman
Effective Date and Time of the event
13/01/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
Despite numerous reminders given to new Executive Board reconstitute on 11 April 2019 to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018.

Additional Details

Name Of Person
Soh Yeow Hwa
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
13/01/2020
Detailed Reason (s) for cessation
Despite numerous reminders given to new Executive Board reconstitute on 11 April 2019 to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018.
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?
Yes
If Yes, Please provide full details
Despite numerous reminders given to new Executive Board reconstitute on 11 April 2019 to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Despite numerous reminders given to new Executive Board reconstitute on 11 April 2019 to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018.
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Despite numerous reminders given to new Executive Board reconstitute on 11 April 2019 to complete the annual audit ended 30 April 2018 and 2019, the Independent Director have seen limited progress and have not received sufficient information, unable to obtain sufficient information in a timely manner to discharge fiduciary responsibilities, unable to make an assessment on the state of affairs in the Group, Cessation of the Corporate Secretary on 8 January 2020 with no proposed replacement and outstanding directors fees have not been paid since 7 June 2018.
Date of Appointment to current position
31/08/2019
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman Audit Committee
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Hu An Cable Limited
Hu An Electric Singapore Pte Ltd
General Pacific Power Pte Ltd
Auric 3 Pte Ltd
SNG International Pte Ltd
Renewable Energy Asia Power Pte Ltd
Present
Greenbuild Technology Limited
HQ Environment Pte Ltd
Yixing Jeffcon Pte Ltd
Golden Sands Seafood Pte Ltd