Change - Announcement of Cessation::RETIREMENT OF INDEPENDENT NON-EXECUTIVE CHAIRMAN
Issuer & Securities
SIM LEISURE GROUP LTD.
SIM LEISURE GROUP LTD. - SGXE75616446 - URR
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
RETIREMENT OF INDEPENDENT NON-EXECUTIVE CHAIRMAN
Submitted By (Co./ Ind. Name)
Sim Choo Kheng
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Tay Eng Kiat Jackson as Independent Non-Executive Chairman, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee.
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, firstname.lastname@example.org.
Name Of Person
Tay Eng Kiat Jackson
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Tay Eng Kiat Jackson ("Mr Tay) who is retiring pursuant to Regulation 102 of the Company's Constitution, will not be seeking re-election as a Director at the Company's forthcoming Annual General Meeting ("AGM") to be held on 29 April 2022 to facilitate Board renewal in line with good governance practice. Accordingly, Mr Tay will retire from his role as Independent Non-Executive Chairman of the Company at the conclusion of the AGM.
After having interviewed Mr Tay 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 retirement of Mr Tay as the Chairman and Independent Non-Executive Director of the Company.
The Board and the Nominating Committee are currently in the process of reviewing the Board's composition and filling up the memberships of the Board committees to ensure compliance with the relevant Catalist Rules and the Code of Corporate Governance 2018, including but not limited to meeting the minimum requirement of Rule 406(3)(c) of the Catalist Rules that independent directors must comprise at least one-third of the Board; and Rule 704(7) of the Catalist Rules to fill the vacancy in the Audit Committee to meet the requirement of a minimum number of not less than three members within two months, but in any case not later than three months.
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.)
Independent Non-Executive Chairman, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee.
Role and responsibilities
The role and responsibilities as an Independent Non-Executive Chairman, Chairman of the Audit Committee and a member of the Remuneration Committee and 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)
1. Sim Leisure Group Ltd.
2. Hafary Pte Ltd
3. Wood Culture Pte. Ltd.
4. Hafary Centre Pte. Ltd.
5. Hafary Balestier Showroom Pte. Ltd.
6. Xquisit Pte. Ltd.
7. One Heart Investment Pte. Ltd.
8. OUE Lippo Healthcare Limited
9. Hafary W+S Pte. Ltd.
10. One Heart International Trading Private Ltd.
11. Sapphire Corporation Limited
12. Hafary Trading Sdn Bhd
13. Hap Seng Investment Holdings Pte. Ltd.
14. Hap Seng Building Material Marketing Pte. Ltd.
15. HSC Melbourne Holding Pte. Ltd.
16. HSC Brisbane Holding Pte. Ltd.
17. HSC Manchester Holding Pte. Ltd.
18. HSC London Holding Pte. Ltd.
19. HSC Leeds Holding Pte. Ltd.
20. HSC Bristol Holding Pte. Ltd.
21. HSC Nottingham Holding Pte. Ltd.
22. MML Marketing Pte. Ltd.
23. Hafary Crescent Pte. Ltd.