Change - Announcement of Cessation::Resignation of Chairman and Interim Chief Executive Officer - Teo Soo Kiat

Issuer & Securities

Issuer/ Manager
SHC CAPITAL ASIA LIMITED
Securities
SHC CAPITAL ASIA LIMITED - SG1EB7000009 - 1H4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Dec-2017 23:38:08
Status
New
Announcement Sub Title
Resignation of Chairman and Interim Chief Executive Officer - Teo Soo Kiat
Announcement Reference
SG171226OTHROY80
Submitted By (Co./ Ind. Name)
Teo Yiam Beng Steven
Designation
Interim Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
There are 6 cessations (taking into account this cessation) and 6 new appointments of directors taking place contemporaneously.

This announcement has been prepared by the Company and its contents have been reviewed by the sponsor, PrimePartners Corporate Finance Pte. Ltd. ("Sponsor") for compliance with the Singapore Exchange Securities Trading Limited 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
Teo Soo Kiat
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
26/12/2017
Detailed Reason (s) for cessation
Further to the circular issued to the Company's shareholders on 20 November 2017 ("Circular"), following Completion of the Proposed Transactions (both terms as defined in the Circular), Mr. Teo Soo Kiat has resigned as part of the reconstitution of the composition of the Board of Directors of the Company.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Teo Soo Kiat as Director 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
19/01/2012
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman and Interim Chief Executive Officer

Member of Nominating Committee
Role and responsibilities
Perform functions of the Chairman and Interim Executive Officer and member of the Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Uncle of Mr. Teo Chiang Khai and Mr. Teo Hsi Leang and brother of Mr. Teo Soo Chew.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed to be interested in the 35,662,759 ordinary shares of the Company (on a post-consolidated basis) held by SHC Capital Holdings Pte. Ltd. by virtue of his interest in See Hoy Chan Sdn. Berhad.
Past (for the last 5 years)
Singapore
Allcare Investment Holdings Pte Ltd
Exquisite Marques Holding Pte. Ltd.
Silverbridge Financial Pte. Ltd.
Ergo Insurance Pte. Ltd.
Earthgreen Designbuild Pte. Ltd.

Malaysia
Good Vista Sdn Bhd
Pristine Holdings Sdn Bhd
Summit Edge Sdn Bhd
CHS Energy Sdn Bhd
Worthy Holdings Sdn Bhd
Present
Singapore
Esteem Equity Pte. Ltd.
Exquisite Marques Pte Ltd
Nanyang Holdings Pte Ltd
Sam Hiang Holdings Pte Ltd
Sam Hiang Marketing Pte Ltd
See Hoy Chan Holdings Pte Ltd
See Hoy Chan Industrial Pte Ltd
See Hoy Chan Land Pte Ltd
See Hoy Chan Realty Pte. Ltd.
SHC Capital Holdings Pte. Ltd.
Veritas Business Solutions Pte Ltd
SHC Investments Ltd.

Malaysia
Damansara Uptown Car Parks Sdn. Bhd.
Damansara Uptown Development Sdn. Bhd.
Damansara Uptown Holdings Sdn. Bhd.
Damansara Uptown One Sdn. Bhd.
Damansara Uptown Realty Sdn. Bhd.
Damansara Uptown Retail Centre Sdn. Bhd.
Damansara Uptown Seven Sdn. Bhd.
Damansara Uptown Two Sdn. Bhd.
Damansara Utama Realty Sdn. Bhd.
Dutamasa Sdn. Bhd.
Paramount Portfolio Sdn. Bhd.
Port Garden Sdn. Berhad
See Hoy Chan Facilities Management Sdn. Bhd.
See Hoy Chan Management Services Sdn. Bhd.
See Hoy Chan Sdn. Berhad
SHC Business Solutions Sdn. Bhd.
SHC Property Services Sdn. Bhd.
SHC Technology Sdn. Bhd.
Uptown Eco Sdn. Bhd.
Uptown Starling Sdn Bhd
Utama Lodge Sdn. Bhd.