Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
IPS SECUREX HOLDINGS LIMITED
Securities
IPS SECUREX HOLDINGS LIMITED - SG1AA3000003 - 40A
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Oct-2014 18:26:13
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG141030OTHRY4Z2
Submitted By (Co./ Ind. Name)
Kelvin Lim Ching Song
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by IPS Securex Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 persons for the Sponsor are Mr Khong Choun Mun, Managing Director, Corporate Finance and Mr David Tham, Senior Director, Corporate Finance, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6539 1177.

Additional Details

Name Of Person
Peter Boo Song Heng
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
30/10/2014
Detailed Reason (s) for cessation
Mr. Peter Boo Song Heng ("Mr. Peter Boo") retired at the Annual General Meeting ("AGM") of the Company held on 30 October 2014.

Due to personal reasons, Mr. Peter Boo did not seek re-election at the AGM. Following his retirement, Mr. Peter Boo has also ceased to be the Chairman of the Nominating Committee, and member of the Audit and Remuneration Committees.

The Company's Sponsor, United Overseas Bank Limited ("Sponsor"), after having interviewed Mr. Peter Boo, is not aware of any material reasons relating to his retirement which would have an adverse impact on 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?
No
Date of Appointment to current position
06/06/2014
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee and the Remuneration Committee.
Role and responsibilities
Duties of an Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee and the Remuneration Committee as covered in the terms of reference of the respective Committees.
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?
Yes
Shareholding Details
100,000 shares
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