Change - Announcement of Cessation::CESSATION AS CHIEF OPERATING OFFICER AND RE-DESIGNATION AS TECHNICAL ADVISOR

Issuer & Securities

Issuer/ Manager
VALLIANZ HOLDINGS LIMITED
Securities
VALLIANZ HOLDINGS LTD - SGXE15078822 - WPC
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Apr-2020 18:51:45
Status
New
Announcement Sub Title
CESSATION AS CHIEF OPERATING OFFICER AND RE-DESIGNATION AS TECHNICAL ADVISOR
Announcement Reference
SG200403OTHRN51X
Submitted By (Co./ Ind. Name)
Ling Yong Wah
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Provenance Capital Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Wong Bee Eng, Chief Executive Officer, at 96 Robinson Road, #13-01, SIF Building, Singapore 068899.

Telephone (65) 6227 1580 Email: wongbe@provenancecapital.com

Additional Details

Name Of Person
Elisa Woodward Wei Hsien
Age
40
Is effective date of cessation known?
Yes
If yes, please provide the date
03/04/2020
Detailed Reason (s) for cessation
Ms. Woodward will step down from her appointment as Chief Operating Officer and re-designated as Technical Advisor of Vallianz Holdings Limited.

Ms. Woodward's re-designation is designed to sharpen the Group's focus on its engineering capabilities, especially in the extremely challenging operating environment in the offshore and marine industry.

Ms. Woodward will continue with and focus her existing role in overseeing the engineering aspects of the Group as Technical Advisor, while relinquishing the operational aspects to her other team members. The Company does not consider Ms. Woodward's role as Technical Advisor to be an Executive Officer function.

After having interviewed Ms. Woodward, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Ms. Woodward as the Chief Operating Officer, and her re-designation as the Technical Advisor.
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
02/06/2017
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)
2
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.)
Chief Operating Officer, functional title
Role and responsibilities
Executive. Ms. Woodward is responsible for the business, management and operation of the Company and its subsidiaries
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
388,333 shares in the listed issuer
Past (for the last 5 years)
Rawabi Vallianz Offshore Services Co. Ltd
Present
1. Vallianz Offshore Marine Pte. Ltd.
2. Vallianz Shipbuilding & Engineering Pte. Ltd.
3. Jetlee Shipbuilding & Engineering Pte Ltd