Change - Announcement of Cessation::Retirement of Lead Independent Director with effect from the conclusion of 2024 AGM

Issuer & Securities

Issuer/ Manager
TAI SIN ELECTRIC LIMITED
Securities
TAI SIN ELECTRIC LIMITED - SG1F88861140 - 500
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Oct-2024 07:23:27
Status
New
Announcement Sub Title
Retirement of Lead Independent Director with effect from the conclusion of 2024 AGM
Announcement Reference
SG241011OTHRO1VG
Submitted By (Co./ Ind. Name)
Hazel Chia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Soon Boon Siong as Lead Independent Director with effect from the conclusion of the Company's annual general meeting to be held on 29 October 2024 ("2024 AGM").

Additional Details

Name Of Person
Soon Boon Siong
Age
75
Is effective date of cessation known?
Yes
If yes, please provide the date
29/10/2024
Detailed Reason (s) for cessation
Having served on the Board of Directors of the Company for more than 11 years, Mr. Soon Boon Siong, who is due to retire by rotation pursuant to Article 91 of the Company's Constitution, has decided that he will not seek re-election as Director of the Company at the 2024 AGM and will retire as an Independent Non-Executive Director of the Company with effect from the conclusion of the 2024 AGM, in line with Rule 210(5)(d)(iv) of the Listing Manual of the Singapore Exchange Securities Trading Limited limiting the tenure of independent directors to 9 years. Accordingly, Mr. Soon will cease as Lead Independent Director, Chairman of Audit and Risk Committee ("ARC"), and a member of Nominating Committee ("NC") and Remuneration Committee ("RC").
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
07/11/2012
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)
4
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.)
Lead Independent Director, Chairman of ARC and a member of NC and RC
Role and responsibilities
Role and responsibilities of an Independent Non-Executive Director, Lead Independent Director, Chairman of ARC and a member of NC and RC
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)
Nil
Present
Nil