Change - Announcement of Cessation::Resignation As Executive Chairman and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
SITRA HOLDINGS (INTERNATIONAL) LIMITED
Securities
SITRA HOLDINGS (INTL) LIMITED - SG1V70937494 - 5LE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Oct-2019 17:34:21
Status
New
Announcement Sub Title
Resignation As Executive Chairman and Chief Executive Officer
Announcement Reference
SG191021OTHR6DCR
Submitted By (Co./ Ind. Name)
Alex Ong
Designation
CFO
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Company's Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by 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 details of the contact person for the Sponsor are:
Name: Mr Leong Weng Tuck, Registered Professional
Address: 9 Raffles Place, #29-01, Republic Plaza Tower 1
Singapore 048619
Tel: (65) 6381 6757

Additional Details

Name Of Person
Chew Ah Ba, George
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
21/10/2019
Detailed Reason (s) for cessation
After the transactions (as defined in the Circular dated 10 July 2019), in addition to the existing timber business, the Group's business includes the property development. Mr Chew decided to relinquish his role as the Executive Chairman and Chief Executive Officer but remains in his current role in the timber business

Based on its enquires, the Company's Sponsor, RHT Capital Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reason for the cessation of Mr George Chew as the Executive Chairman and Chief Executive Officer/Managing Director of 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
02/01/1980
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
Responsible for the overall management, strategic planning and business development of the Group in Singapore and globally.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Husband of Mdm Tan Teresa, a substantial shareholder of the Company
Father of Mr Chew Chiew Siang Steven, the Executive Director of the Company
Brother of Mr Chew Hua Seng, a substantial shareholder of the Company
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
120,949,081 (Direct)
86,029,318 (Deemed)
Past (for the last 5 years)
NA
Present
Sitra Agencies Pte Ltd
Sitra Global Pte Ltd
Suncoast Sitra Pte Ltd
Sitra Dove Logistics & Construction Pte Ltd
PT Jaya Raya Trasindo
Energetic Industries Sdn Bhd
World Furnishing Hub Pte Ltd