Change - Announcement of Cessation::RESIGNATION OF DIRECTOR

Issuer & Securities

Issuer/ Manager
POLARIS LTD.
Securities
POLARIS LTD. - SG1L96897898 - 5BI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Jul-2021 17:35:39
Status
New
Announcement Sub Title
RESIGNATION OF DIRECTOR
Announcement Reference
SG210716OTHRM1P8
Submitted By (Co./ Ind. Name)
Soennerstedt Carl Johan Pontus
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Mr Yap Wai Ming.
Tel: 6389 3000 Email: waiming.yap@morganlewis.com

Additional Details

Name Of Person
Evy Soenarjo
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
31/07/2021
Detailed Reason (s) for cessation
Ms Evy Soenarjo ("Ms Evy") will step down as Non-Independent Non-Executive Director of Polaris Ltd. (the "Company") on 31 July 2021. Ms Evy resigned for personal reasons but is currently in discussions with the Company for a potential re-designation to an executive role in one of the Company's subsidiaries to assist and grow the Group's lifestyle products sales business. The Company will provide further updates on this, if any, in due course. Following Ms Evy's resignation, Independent Directors make up a majority of the Board, in compliance with the relevant provisions under the Code of Corporate Governance 2018.

After having interviewed Ms Evy and to the best of its knowledge, the Company's Sponsor, Stamford Corporate Services Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Ms Evy as a 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
08/04/2020
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)
1
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.)
Non-Independent Non-Executive Director
Member of the Audit and Risk Management Committee and the Remuneration Committee
Role and responsibilities
Carry out the responsibilities as Non-Independent Non-Executive Director, and a member of the Audit and Risk Management Committee and Remuneration Committee.
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)
PT.Trikomsel Oke Tbk, Director
Present
Skyluxe, Founder