Change - Announcement of Cessation::CESSATION OF LEAD INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
LIBRA GROUP LIMITED
Securities
LIBRA GROUP LIMITED - SG2D82975475 - 5TR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Apr-2017 20:23:09
Status
New
Announcement Sub Title
CESSATION OF LEAD INDEPENDENT DIRECTOR
Announcement Reference
SG170428OTHRR7ST
Submitted By (Co./ Ind. Name)
Chu Sau Ben
Designation
Executive Chairman and Chief Executive Officer
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, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not 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 accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income At Raffles, Singapore 049318, telephone (65) 6229-8088.

Additional Details

Name Of Person
YUEN SOU WAI
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2017
Detailed Reason (s) for cessation
Mr Yuen Sou Wai ("Mr Yuen") had retired pursuant to Regulation 89 of the Company's Constitution. Mr Yuen had decided not to seek for re-election as a Lead Independent Director of the Company.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no material reasons for the retirement of Mr Yuen as a Lead Independent Director of Libra Group Limited.
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
04/10/2011
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.)
Lead Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee
Role and responsibilities
Roles and responsibilities as a Lead Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee
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
1. Chew's Group Limited
2. Huationg Global Limited
3. YHI International Limited