Change - Announcement of Cessation::Announcement on Cessation of Independent Director
Issuer & Securities
KOYO INTERNATIONAL LIMITED
KOYO INTERNATIONAL LIMITED - SG1X69942156 - 5OC
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Announcement on Cessation of Independent Director
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. ("Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited ("Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, email@example.com.
Name Of Person
Serena Lee Chooi Li
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
After serving on the Board since 2007, Ms. Serena Lee will not be seeking re-election pursuant to Regulation 100 of the Company's Constitution and will be retiring at the conclusion of the Company's Annual General Meeting ("AGM") to be held on 26 April 2022. Ms. Serena Lee is stepping down to pave the way for board refreshment.
Upon her retirement, Ms. Serena Lee will cease as the Chairman of the Remuneration Committee, a member of the Audit Committee and Nominating Committee. The Company will continue its search for a new independent director within 2 months, but in any case no later than 3 months from the date of the AGM.
After having interviewed Ms. Serena Lee and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Ms. Serena Lee.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, a member of the Nominating Committee, Audit Committee, and Chairman of Remuneration Committee.
Role and responsibilities
Independent Non-Executive Director.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
Intelligent Comparison Singapore Pte. Ltd. (struck off)
CTLC Law Corporation
Icar Asia Pte. Limited
Amber Lounge Pte. Ltd.