Change - Announcement of Cessation::Resignation of Group Finance Manager

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GROUP LIMITED - SG2F03983689 - 5UN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Apr-2021 17:36:00
Status
New
Announcement Sub Title
Resignation of Group Finance Manager
Announcement Reference
SG210407OTHRMOV4
Submitted By (Co./ Ind. Name)
Chu Ming Kin
Designation
Executive Chairman and Chief Executive Director
Description (Please provide a detailed description of the event in the box below)
Mr. Fam Choong Hoong's resignation has been noted and accepted by the Board of Directors of the Company (the "Board") and the Board has unanimously agreed that his resignation be effective from 24 April 2021.

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It 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 Mr Bernard Lui. Tel: 6389 3000 Email: bernard.lui@morganlewis.com

Additional Details

Name Of Person
Fam Choong Hoong
Age
30
Is effective date of cessation known?
Yes
If yes, please provide the date
24/04/2021
Detailed Reason (s) for cessation
Mr. Fam is resigning as he has been working from Malaysia (due to issues with obtaining employment pass) and has found it challenging to continue fulfilling his duties as a Group Finance Manager due to geographical boundaries and travel restrictions. The Sponsor, after having interviewed Mr. Fam, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Fam as the Group Finance Manager. Mr. Fam has confirmed that in his view, save for the information already disclosed to shareholders in the unaudited financial statements for the financial year ended 31 December 2020 ("FY2020"), such as the reduced number of trades by the Company for FY2020, there are no other matters which should be brought to the attention of the shareholders. Mr. Fam is currently service his 1-month notice period. The Company is in the midst of finding a replacement for the position of Group Finance Manager or equivalent and Mr. Fam will ensure a smooth transition and handover of duties once they do so. The Company will make the necessary announcements when a suitable candidate is appointed.
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
22/10/2020
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Finance Manager
Role and responsibilities
Responsible for the Group's finance matters, including compliance with the listing rules of the SGX-ST and the relevant financial reporting standards, financial planning and reporting, and internal control and risk management.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
Nil