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

Issuer & Securities

Issuer/ Manager
ENECO ENERGY LIMITED
Securities
ENECO ENERGY LIMITED - SG1P35918371 - R14
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-May-2021 17:00:36
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer
Announcement Reference
SG210514OTHR2A0A
Submitted By (Co./ Ind. Name)
Colin Peter Moran
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Executive Officer (but he would remain as a Director of the Board).

Additional Details

Name Of Person
Colin Peter Moran
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2021
Detailed Reason (s) for cessation
The current COVID-19 situation has created an unsustainable situation for Mr Moran to manage his family commitments in Australia whilst needing to provide the Company with his full-time presence in Singapore. As such, he felt that it was necessary for him to step down and provide an opportunity for the Group to select a new leader for the next phase of its restructuring, which is to be growth focused.

After more than 11 years with the Group, Mr Moran opined that it was the right time for the Group and it is ready for such a change as the Group have weathered the turbulence of 2020.
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
03/07/2019
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)
3
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.)
Executive Director and Chief Executive Officer
Role and responsibilities
Area of responsibility is that of the Executive Director and CEO of the Company.
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
1,031,906 shares
Past (for the last 5 years)
Richland Commercial Properties Pte. Ltd.
Richland Project Logistics Services Pte. Ltd.
OPEX International Pte. Ltd.
Present
Eneco Energy Limited
Richland Chemical Logistics Pte. Ltd.
Richland Logistics Services Pte. Ltd.
Richland Global Pte. Ltd.
Wowz Entertainment Pte. Ltd.
RWB Marine Australia Pty Ltd
Eneco Singapore Pte. Ltd.
REL Oil & Gas Pte. Ltd.
PT Richland Indonesia
PT Richland Logistics Indonesia
Ramba Energy Indonesia Limited
Ramba Energy Investment Limited
Ramba Energy Exploration Limited
Comoranich Family Trust
1220 Umbrella Investments Pty Ltd