Change - Announcement of Cessation::Retirement of Executive Director and Chief Executive Officer - Georges Michel Novatin

Issuer & Securities

Issuer/ Manager
MEMORIES GROUP LIMITED
Securities
MEMORIES GROUP LIMITED - SG1EB7000009 - 1H4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Jan-2019 18:41:22
Status
New
Announcement Sub Title
Retirement of Executive Director and Chief Executive Officer - Georges Michel Novatin
Announcement Reference
SG190121OTHRH2MH
Submitted By (Co./ Ind. Name)
Serge Pun
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Announcement on the retirement of Executive Director and Chief Executive Officer, Mr Georges Michel Novatin.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's continuing sponsor, PrimePartners Corporate Finance 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 Sponsor and the SGX-ST assume 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 Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Georges Michel Novatin
Age
74
Is effective date of cessation known?
Yes
If yes, please provide the date
31/01/2019
Detailed Reason (s) for cessation
Mr Georges Michel Novatin is retiring and will relinquish all his appointments within the Group. He will step down as an Executive Director and Chief Executive Officer of the Company and will also cease to be a director of the Company's various subsidiaries.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte Ltd, is satisfied that other than disclosed in this announcement, there are no other material reasons for the cessation of Mr Georges Michel Novatin as an Executive Director and a 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
26/12/2017
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Mr Georges Michel Novatin assisted the Executive Chairman in managing the Group's overall business development, expansion and various other business processes.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
1,000,000 share awards granted pursuant to Memories Performance Share Plan ("Memories PSP").

The release of shares is subject to the achievement of certain predetermined performance conditions as determined by the Remuneration Committee or otherwise in accordance with the rules of the Memories PSP.
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