Change - Announcement of Cessation::Cessation of Lead Independent Director
Issuer & Securities
RYOBI KISO HOLDINGS LTD.
RYOBI KISO HOLDINGS LTD. - SG1BF6000007 - BDN
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Lead Independent Director
Submitted By (Co./ Ind. Name)
Goh Thien Phong and Chan Kheng Tek
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board") of Ryobi Kiso Holdings Ltd. (the "Company") wishes to announce the resignation of Ms. Lai Chin Yee as Lead Independent Director with effect from 3 May 2019.
The Board would like to express its appreciation to Ms. Lai Chin Yee for her contributions to the Company during her tenure of office with the Company.
Name Of Person
Lai Chin Yee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Pursuant to Section 227G of the Companies Act, during the period which the Judicial Management order is in force, all powers conferred and duties imposed on the directors by the Companies Act or the Constitution of the Company shall be exercised or performed by the Judicial Managers and not by the directors. In view thereof, Ms Lai Chin Yee resigned as the Lead Independent Director of the Company and concurrently relinquished her positions in the various Board Committees following the Judicial Management order.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director
Role and responsibilities
1. Lead Independent Director;
2. Chairman of the Audit Committee;
3. Member of the Remuneration Committee; and
4. 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
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
China Sports International Limited (retired on 30 April 2015)
Qian Hu Corporation Limited
Micro-Mechanics (Holdings) Ltd