Change - Announcement of Cessation::Cessation as Group Chief Executive Officer

Issuer & Securities

Issuer/ Manager
MTQ CORPORATION LIMITED
Securities
MTQ CORPORATION LIMITED - SG0507000073 - M05
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-May-2024 17:25:47
Status
New
Announcement Sub Title
Cessation as Group Chief Executive Officer
Announcement Reference
SG240531OTHRKQ07
Submitted By (Co./ Ind. Name)
Tan Lee Fang
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr Kuah Boon Wee to step down as Group Chief Executive Officer and Executive Director of the Company, transitioning to Non-Executive Director role

Additional Details

Name Of Person
Kuah Boon Wee ("Mr Kuah")
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2024
Detailed Reason (s) for cessation
Mr Kuah's retirement as the Executive Director and Group Chief Executive Officer of the Company is part of the Company s strategic succession planning. Mr. Kuah will continue to contribute to the Group as a non-executive member of the Board, offering his guidance and support to the new Group CEO.
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
01/07/2010
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)
4
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.)
Group Chief Executive Officer
Role and responsibilities
Mr Kuah is accountable to the Board for the overall performance of MTQ Group's business operations and strategic planning.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Kuah is the son of our Non-Executive Chairman, Mr Kuah Kok Kim.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
7,669,539 ordinary shares of MTQ Corporation Limited
Past (for the last 5 years)
Please refer to Appendix A
Present
Please refer to Appendix A

Attachments

Appendix A - KBW current and past directorships.pdf
Total size =43K