Change - Announcement of Cessation::Change - Announcement of Cessation
Issuer & Securities
BLACKGOLD NATURAL RESOURCES LIMITED
BLACKGOLD NATURAL RESOURCESLTD - SG1AH0000001 - 41H
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Change - Announcement of Cessation
Submitted By (Co./ Ind. Name)
Philip Cecil Rickard
Executive Chairman 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 Ms. Tay Sim Yee (Telephone number: +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Having served on the Board for more than 4 years and as part of changes to the Group's business strategy and direction, Mr Rijanto has decided to step down as the Chief Investment Officer and Executive Director of the Company to allow for a renewal in the Board composition of the Company. He will be pursuing other business interests after his resignation. Mr Rijanto will provide the relevant assistance to the new Board to ensure a smooth transition for the Group.
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 Rijanto as the Chief Investment Officer and 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.)
Chief Investment Officer and Executive Director
Role and responsibilities
Managing the Group's investments, sales and marketing operations and sourcing for new investment opportunities.
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?
Mr Rijanto holds direct interest of 1,698,000 shares in the Company and deemed interest in 7,128,907 of the Company by virtue of his 33.3% holdings in the issued and paid up capital in Cerenti Investments Ltd, which in turn holds 7,128,907 shares in the issued and paid up capital of the Listed Issuer.
Past (for the last 5 years)
Twin Gold Ventures S.A.
PT Samantaka Batubara
PT BlackGold Energy Indonesia
BlackGold Asia Resources Pte Ltd
BlackGold Energy Limited
BlackGold Power Pte Ltd
PT Ausindo Prima Andalas
PT Ausindo Andalas Mandiri
Cerenti Investments Ltd
PT Serasi Duta Pratama
PT Bahagia Sakti Makmur