Change - Announcement of Cessation::Resignation of Executive Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
POLLUX PROPERTIES LTD.
Securities
POLLUX PROPERTIES LTD. - SG1I77884290 - 5AE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-May-2021 22:30:23
Status
New
Announcement Sub Title
Resignation of Executive Director and Chief Executive Officer
Announcement Reference
SG210514OTHR2UEO
Submitted By (Co./ Ind. Name)
Nico Purnomo Po
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director and Chief Executive Officer.

Additional Details

Name Of Person
Nico Purnomo Po
Age
39
Is effective date of cessation known?
Yes
If yes, please provide the date
31/05/2021
Detailed Reason (s) for cessation
Nico Purnomo Po ("Nico") has decided to step down from the Board of Company as Executive Director and Chief Executive Officer as he wishes to spend more time on his other existing commitments. His role will be assumed by Jacob Lee Yen Min ("Jacob Lee") as of 31 May 2021. Meanwhile, Nico will work closely with Jacob Lee and the management of the Company to ensure a smooth transition.

The Board of Directors and Management sincerely thank him for the invaluable contribution, dedication and commitment to the Company during his tenure with the Company.

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 Nico as the Executive Director and Chief Executive Officer 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?
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
31/03/2008
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer.
Role and responsibilities
Responsible for the management and operation of the Group and implementation of the Group's strategies and policies.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Director of Pollux Holdings Pte. Ltd, which is a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed interest in 2,483,242,325 shares of the Company held by Pollux Holdings Pte. Ltd.
Past (for the last 5 years)
Director of PT. Pollux Properti Indonesia TBK
Director of PT. Pollux Investasi International TBK
Director of Magnificent Ocean Assets Ltd
Director of Fair Billion Holdings Ltd
Director of Dragon Diligent International Limited
Director of Sunny Scene Investment Ltd
Director of Ocean Blue Asia Limited
Director of Ocean Blue Asia Ltd
Director of Ariva Hospitality Premier Pte Ltd
Present
Director of Pollux Holdings Pte Ltd
Director of Pollux Alpha Investment Ltd.
Director of Tinifia Investment Pte Ltd
Director of Louis Kienne International Pte Ltd
Director of Goldman Morgan Holding Pte Ltd
Director of Richmond View Investments Pte Ltd
Director of Orchard Residences Investment Pte Ltd
Director of Cherimoya Worldwide Corporation
Director of Savers Investment Limited
Director of Symbianta Worldwide Inc
Director of Bvlgari Park Residences Pte Ltd
Director of Boulevard Residences Pte Ltd
Director of Giorgio Residences Pte Ltd
Director of Channel Residences Pte Ltd
Director of Pollux Treasures Pte Ltd
Director of Stirling Fort Capital Pte Ltd
Director of Pollux (SF1) Pte Ltd
Director of Pollux (CCK) Pte Ltd
Director of PT. Mega Kuningan Pinnacle
Director of PT. Mega Dutga Megah Laksana
Director of PT. Mega Daya Prima
Director of PT. Raffles Investasi Indonesia
Director of PT. Adiperdana Sejahtera
Director of PT. Multi Artha