Change - Announcement of Cessation::Cessation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
SOUTHERN ALLIANCE MINING LTD.
Securities
SOUTHERN ALLIANCE MINING LTD. - SGXE41674636 - QNS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Oct-2022 17:34:20
Status
New
Announcement Sub Title
Cessation of Chief Financial Officer
Announcement Reference
SG221020OTHRTGNX
Submitted By (Co./ Ind. Name)
Dato' Sri Pek Kok Sam
Designation
Executive Director & Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
The Company was listed on the Catalist board of the Singapore Exchange Securities Trading Limited (the "Exchange") on 26 June 2020. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").

This announcement has been reviewed by the Company's Sponsor. It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Lim Wei Hung
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
31/10/2022
Detailed Reason (s) for cessation
Mr. Lim Wei Hung ("Mr. Lim") will cease to be the Chief Financial Officer of the Company with effect from 31 October 2022 to undertake the role as Executive Director and Chief Operating Officer of the Company with effect from 1 November 2022.

Ms. Chong Yee Ching, who will be appointed as the Financial Controller of the Company with effect from 1 November 2022, will undertake the existing roles and responsibilities of Mr. Lim.

After having interviewed Mr. Lim and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Lim as the Chief Financial Officer of the Company.

In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr. Lim and there are no disagreement between Mr. Lim and the Board of Directors of the Company with regards to practices that would have an impact to the Company's financial reporting.
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
11/07/2013
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Mr Lim reports directly to the Chief Executive Officer and to the Board of Directors and is responsible for the overall financial accounting and reporting function of the Company, including treasury and corporate regulatory compliance.
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
Holding a direct interest of 6,020,000 shares of the Company
Other Directorships
Past (for the last 5 years)
None
Present
Executive Director of the Company's subsidiary,
Selatan Anjung Minerals Sdn Bhd

Non-Executive Director of RE Jaya Timur Sdn Bhd