Change - Announcement of Cessation::Retirement of Non-Executive and Independent Director

Issuer & Securities

Issuer/ Manager
PENGUIN INTERNATIONAL LIMITED
Securities
PENGUIN INTERNATIONAL LIMITED - SG1CI0000005 - BTM
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2021 17:47:06
Status
New
Announcement Sub Title
Retirement of Non-Executive and Independent Director
Announcement Reference
SG210429OTHRERHW
Submitted By (Co./ Ind. Name)
Heng Michelle Fiona
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Penguin International Limited ("PIL" or the "Company") would like to announce the retirement of Mr Ong Kian Min as a Non-Executive and Independent Director after the conclusion of the Company's Annual General Meeting ("AGM") held on 29 April 2021.

Additional Details

Name Of Person
Ong Kian Min
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2021
Detailed Reason (s) for cessation
As part of the Board renewal process, Mr Ong retired by rotation pursuant to Regulation 92 of the Company's Constitution at the conclusion of the AGM. Accordingly, he stepped down as Lead Independent Director, Chairman of the Audit and Risk Committee and member of the Nominating and Remuneration Committees. Mr Ong was appointed to the PIL Board on 30 September 1997 and has served as an Independent Director for over 23 years. The Board and Management of PIL would like to express their gratitude to Mr Ong for his invaluable contributions to the Board during his time with 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
30/09/1997
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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.)
Lead Independent Director
Chairman of Audit and Risk Committee
Member of Remuneration Committee
Member of Nominating Committee


Role and responsibilities
Non-Executive and Independent Director
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)
HUPSteel Limited
GMG Global Ltd
China Energy Limited
Jaya Holdings Limited
Breadtalk Group Limited
Present
Food Empire Holdings Limited;
OUE Hospitality Trust Management Pte. Ltd; OUE Commercial REIT Management Pte. Ltd; Penguin International Limited;
SilverLake Axis Limited;
JEKKA-MOLLE Pte. Ltd;
Kanesaka Sushi Private Limited;
QEnergy Pte Ltd;
Alpha Advisory Pte. Ltd;
GPTW Institute (Singapore) Pte. Ltd.;
Wesley Methodist Church;
Alpha Singapore;
One Eternity Foundation Company Limited.