Change - Announcement of Cessation::Cessation of Mr. Lim Beng Chew as Executive Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Apr-2024 22:08:50
Announcement Sub Title
Cessation of Mr. Lim Beng Chew as Executive Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Tang Zhengming
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Director

This announcement has been reviewed by the Company's sponsor, UOB Kay Hian 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 Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
Lim Beng Chew
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Lim Beng Chew ("Mr. Lim") had not been involved in the business and operations of the Company and the Group for more than six months since taking a leave of absence to attend to his personal affairs as announced on 23 September 2023. Given the length of time that has since passed with no visibility on any date of return, Mr. Lim communicated to management that it is more appropriate to formally step down as the Executive Director of the Company and focus on his personal affairs and other business interests.

As such, Mr. Lim will retire from the Board and cease to be a Director of the Company following the conclusion of the AGM FY2023 on 26 April 2024.

Based on its enquiries, the Company's sponsor, UOB Kay Hian Private Limited, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Lim as the Executive Director 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
Role and responsibilities
Mr. Lim is responsible for the overall management and strategic direction of the Company, overseeing marketing and sales acquisition, business growth and development, strategic brand management and the day-to-day operations.
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
1,234,452,015 ordinary shares
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