Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
PAN HONG HOLDINGS GROUP LIMITED
Securities
PAN HONG HOLDINGS GROUP LTD - BMG6900A1163 - P36
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-Jul-2024 00:03:39
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240710OTHR449C
Submitted By (Co./ Ind. Name)
Wong Sum
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Dr Zheng Haibin will be retiring as a Director of the Company pursuant to Bye-Law 86(1) of the Bye-Laws of the Company at the conclusion of the Annual General Meeting to be held on 26 July 2024 ("AGM"). Dr Zheng Haibin has served as an Independent Director of the Company for more than nine years from the date of his first appointment. In the spirit of good corporate governance, Dr Zheng Haibin is not seeking re-election.

Accordingly, Dr Zheng Haibin shall also retire as an Independent Director of the Company, chairman of the Remuneration Committee ("RC") and a member of the Audit Committee ("AC") at the conclusion of the AGM. Concurrently, Mr Chung Yiu Kwong Nixon, an incumbent Independent Director of the Company, will be appointed as the Chairman of the RC and a member of the AC.

The Board would like to express its heartfelt gratitude to Dr Zheng Haibin for his contributions and efforts driving the growth of the Group over the years.

Additional Details

Name Of Person
Zheng Haibin
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
26/07/2024
Detailed Reason (s) for cessation
Dr Zheng Haibin will be retiring as a Director of the Company pursuant to Bye-Law 86(1) of the Bye-Laws of the Company at the conclusion of the AGM. Dr Zheng Haibin has served as an Independent Director of the Company for more than nine years from the date of his first appointment. In the spirit of good corporate governance, Dr Zheng Haibin is not seeking re-election.

Accordingly, Dr Zheng Haibin shall also retire as an Independent Director of the Company, chairman of the RC and a member of the AC at the conclusion of the AGM. Concurrently, Mr Chung Yiu Kwong Nixon, an incumbent Independent Director of the Company, will be appointed as the Chairman of the RC and a member of the AC.
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
14/08/2006
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, chairman of the RC and a member of the AC
Role and responsibilities
Duties as an Independent Director, chairman of the RC and a member of the AC
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?
No
Past (for the last 5 years)
Nil
Present
- CCH High-Tech Enterprise Ltd.
- Shenzhen Scinfo Venture Capital Management Co., Ltd.