Change - Announcement of Cessation::Resignation of Non-Executive Non-Independent Chairman

Issuer & Securities

Issuer/ Manager
NGSC LIMITED
Securities
NGSC LIMITED - SG1I31881119 - B07
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-May-2019 22:06:11
Status
New
Announcement Sub Title
Resignation of Non-Executive Non-Independent Chairman
Announcement Reference
SG190531OTHRX4TU
Submitted By (Co./ Ind. Name)
Michael Kuan-Chi Sun
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Non-Independent Chairman

Additional Details

Name Of Person
Andrew Coulton
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
30/05/2019
Detailed Reason (s) for cessation
Resigned due to personal reasons.
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?
Yes
If Yes, Please provide full details
There are various unresolved issues about the management of the company including the legal opinion rendered by Wong Partnership LLP in relation to further action after the EY2 report.
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
07/03/2014
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Chairman
Role and responsibilities
Non-Executive Non-Independent Chairman
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
Direct Interest - 9,000,000 ordinary shares of NGSC Limited
Past (for the last 5 years)
Nil
Present
Director - Ablesure Ltd, London, United Kingdom
Director - AR Evans (UK) Ltd, London