Change - Announcement of Cessation::Cessation of Executive Chairman and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
AUTAGCO LTD.
Securities
AUTAGCO LTD - SGXE12305384 - WNH
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-May-2026 17:50:15
Status
New
Announcement Sub Title
Cessation of Executive Chairman and Chief Executive Officer
Announcement Reference
SG260518OTHRMKN3
Submitted By (Co./ Ind. Name)
Ng Kian Guan
Designation
Lead Independent Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement 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 Ms Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name of person
Ng Boon Hui
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date.
19/05/2026
Detailed reason(s) for cessation
There has been a change in the controlling shareholders of the Company, resulting in a corresponding change in the composition of the Board. The resignation of Mr. Ng Boon Hui ("Mr. Ng") is to facilitate the appointment of a Board member, Mr. Soh Yeow Hwa, nominated by the new controlling shareholders pursuant to the terms of the subscription agreement dated 17 March 2026. Please refer to the circular dated 9 April 2026 for further information.

The Board would like to express its gratitude and appreciation towards Mr. Ng for his valuable contributions to the Board during his tenure.

The Sponsor, after having interviewed Mr. Ng, is satisfied that, save as disclosed in this announcement, there are no material reasons for the cessation of Mr. Ng as an Executive Chairman and Chief Executive Officer 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?
Yes
If yes, please elaborate.
The auditor of the Company, Grant Thornton Audit LLP, has included a Material Uncertainty Related to Going Concern section on the audited financial statements of the Group for the financial year ended 31 July 2025 ("FY2025"). Please refer to the Company's FY2025 annual report and announcement dated 13 January 2026 for further information.

The Company is in the midst of identifying new director candidates and will endeavour to fill the vacancies in the Board in accordance with the Code of Corporate Governance 2018. The Company will make relevant announcement on the composition of the Board and Board Committees of the Company after such appointment.
Date of appointment to current position
08/05/2024
Job title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
Mr. Ng is responsible for setting the strategic direction of the Group together with the Board. He also oversees day-to-day operations, including steering the business and operations for future growth and expansion and managing the risk portfolio of the Group.
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)
2
Do independent directors make up at least one-third of the board (taking into account this cessation)?
Yes
Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months
3
Shareholding interest in the listed issuer and its subsidiaries
Yes
Shareholding details
By virtue of Mr Ng's 70% shareholding in Aurico Global Holdings Pte. Ltd., Mr. Ng is deemed interested in the 364,000,000 ordinary shares in the capital of the Company, representing 15.80% of the entire issued share capital of the Company.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Ng is the spouse of Mdm Ho Poh Khum, who is the Chief Operating Officer of the Company.
Other Directorships
Past (for the last 5 years)
Please refer to the attached document for his directorships for the past 5 years.
Present
Please refer to the attached document for his present directorships.

Attachments

ANNEXURE A.pdf
Total size =95K