Change - Announcement of Cessation::Cessation of Director and Executive Chairman

Issuer & Securities

Issuer/ Manager
PACIFIC ANDES RESOURCES DEVELOPMENT LIMITED
Securities
PACIFIC ANDES RESOURCES DEVLTD - BMG6845B1046 - P11
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Dec-2015 04:11:01
Status
New
Announcement Sub Title
Cessation of Director and Executive Chairman
Announcement Reference
SG151215OTHR260K
Submitted By (Co./ Ind. Name)
Lynn Wan Tiew Leng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Director and Executive Chairman who is also a member of the Nominating Committee. Mr Ng Joo Siang will continue to act as advisor to the Company, providing the benefit of his long term expertise and experience to the board and senior management.

Additional Details

Name Of Person
Ng Joo Siang
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
14/12/2015
Detailed Reason (s) for cessation
The cessation gives effect to the long term succession planning for the leadership of the Company which provides for the development of the skills of younger management so that leadership of the Company can be passed on seamlessly and in a timely manner. Under the plan, Ms Ng Puay Yee (Jessie) has been building on her many years of experience within the Company, enhancing the skills necessary to successfully lead the management 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
30/03/2007
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)
3
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.)
Executive Chairman and member of the Nominating Committee.
Role and responsibilities
Executive Chairman and 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
- Brother of Messrs Ng Joo Puay, Frank and Ng Joo Kwee, Ms Ng Puay Yee (Jessie); and
- Son of Mdm Teh Hong Eng.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Please refer to attached Appendix.
Present
Please refer to attached Appendix.

Attachments

Appendix_Ng Joo Siang-Directorship.pdf
Total size =161K