Change - Announcement of Cessation::Cessation of Chief Operating Officer of Travelodge Hotels (Asia) Pte. Ltd.

Issuer & Securities

Issuer/ Manager
ICP LTD.
Securities
ICP LTD - SG2G87000003 - 5I4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Nov-2022 18:09:07
Status
New
Announcement Sub Title
Cessation of Chief Operating Officer of Travelodge Hotels (Asia) Pte. Ltd.
Announcement Reference
SG221115OTHRXI25
Submitted By (Co./ Ind. Name)
Ong Min'er
Designation
Financial Controller
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. ("the Sponsor"), for compliance with the relevant rules of the SGX-ST.

This announcement has not been examined or approved by 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.

Additional Details

Name Of Person
Chan Chai Teck Steven
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
16/01/2023
Detailed Reason (s) for cessation
Mr. Chan Chai Teck Steven ("Mr. Chan") tendered his resignation as the Chief Operating Officer ("COO") of Travelodge Hotels (Asia) Pte. Ltd. ("TLA") to pursue other career opportunities. The management has been unable to persuade Mr. Chan to continue and it has been mutually agreed for his last working day with the Company to be 16 January 2023.

In this interim period, Mr. Chan will work closely with the management in the transition of his responsibilities while the Company identifies a suitable candidate. The Company will make the relevant announcement in due course.

The Company's Sponsor, RHT Capital Pte. Ltd., after having interviewed Mr Chan, is satisfied that, other than disclosed in the announcement, there are no material reasons for the cessation of Mr Chan as the COO of TLA.
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?
Yes
If Yes, Please provide full details
Do Independent Directors make up at least one-third of the board (taking into account this cessation)?
Yes
Date of Appointment to current position
07/01/2020
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)
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.)
Chief Operating Officer of Travelodge Hotels (Asia) Pte. Ltd.
Role and responsibilities
Mr. Chan oversaw the TLA operating platform in respect of the performance of all Travelodge Hotels in Asia
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?
No
Past (for the last 5 years)
None
Present
None