Change - Announcement of Cessation::Cessation of Interim Chief Executive Officer

Issuer & Securities

Issuer/ Manager
NANOFILM TECHNOLOGIES INTERNATIONAL LIMITED
Securities
NANOFILM TECHNOLOGIES INTL LTD - SGXE61652363 - MZH
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Oct-2021 07:29:44
Status
New
Announcement Sub Title
Cessation of Interim Chief Executive Officer
Announcement Reference
SG211014OTHRYYSK
Submitted By (Co./ Ind. Name)
Lim Kian Onn
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Relinquishment of the role of interim Chief Executive Officer of Nanofilm Technologies International Limited (the "Company") with effect from 1 January 2022 following the appointment of a successor.

Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Issue Managers for the initial public offering of shares in, and listing of, the Company on the Mainboard of the SGX-ST on 30 October 2020 ("Offering"). Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Global Coordinators for the Offering. Citigroup Global Markets Singapore Pte. Ltd., CLSA Singapore Pte Ltd, Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited are the Joint Bookrunners and Underwriters for the Offering.

Additional Details

Name Of Person
Dr Shi Xu
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
01/01/2022
Detailed Reason (s) for cessation
As part of the Company's ongoing succession planning, the Company's existing Deputy Chief Executive Officer, Mr Gary Ho Hock Yong, will be appointed as Chief Executive Officer of the Company ("CEO") with effect from 1 January 2022 and Dr Shi Xu will accordingly relinquish from his role as interim CEO with effect from the said date. Dr Shi Xu will remain as Executive Chairman of the Company and a member of the Nominating Committee.
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
22/06/2021
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer of the Company (Interim)
Role and responsibilities
The primary areas of responsibility as interim CEO are to oversee the overall management of the operations and resources of the Group, including planning and implementing the strategic direction of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Spouse of Madam Jin Xiao Qun, a substantial shareholder of the Company
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interests 44,257,573 shares in the Company

Deemed interest 311,584,895 shares in the Company
Past (for the last 5 years)
None
Present
1. Nanofilm Technologies International Limited
2. Nanofilm Advanced Materials Pte. Ltd.
3. Wizture Holdings Pte. Ltd.
4. Nanofab Technologies Pte. Ltd.
5. Nanofilm Vacuum Coating (Shanghai) Co., Ltd
6. Nanofilm Renewable Energy Technology (Shanghai) Co. Ltd
7. Nanofilm Enterprise Management (Shanghai) Co., Ltd
8. Yizheng Nahuan Technologies Co. Ltd
9. Nanofilm Technologies Japan Limited
10. Nanofab Japan Co. Ltd
11. Nanofab Vietnam Co. Ltd
12. Nanyang Technological University - Ntuitive Pte. Ltd.