Change - Announcement of Cessation::Cessation as General Manager (Balmaine)

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Nov-2022 19:18:38
Status
New
Announcement Sub Title
Cessation as General Manager (Balmaine)
Announcement Reference
SG221102OTHRUW6U
Submitted By (Co./ Ind. Name)
Yao Liang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (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 Sheila Ong, Registered Professional, W Capital Markets Pte Ltd, 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3543.

Additional Details

Name Of Person
Stephen Robert Jeffers
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
10/11/2022
Detailed Reason (s) for cessation
Mr Jeffers resigned as he believes he was successfully managing the mining operations but he believes he does not have the full confidence of the CEO.

Mr Jeffers confirmed that all material matters that have a material impact on the operations of the Company have been publicly disclosed.

The Sponsor, having spoken to Mr Jeffers, is satisfied that, other that as disclosed in this announcement, there are no other material reasons for the resignation of Mr Jeffers.
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
01/06/2022
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)
1
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.)
General Manager (Balmaine)
Role and responsibilities
The General Manager (Balmaine) is responsible for the management and operations of Balmaine Gold Pty Ltd and reports to the Chief Executive Officer of the Group.

Mr Trevor Callow, currently the Mine Manager of Balmaine Gold Pty Ltd, will assume the role of Acting General Manager (Balmaine) and will be responsible for the management and operations of Balmaine Gold Pty Ltd until a suitable candidate is found for the role of General Manager (Balmaine).
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)
-
Present
Baryonic Matter Pty Ltd