Change - Announcement of Cessation::Retirement of Founder and Executive Director

Issuer & Securities

Issuer/ Manager
THAKRAL CORPORATION LTD
Securities
THAKRAL CORPORATION LTD - SG1AJ2000005 - AWI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Apr-2025 19:56:13
Status
New
Announcement Sub Title
Retirement of Founder and Executive Director
Announcement Reference
SG250414OTHR616R
Submitted By (Co./ Ind. Name)
Anil Daryanani
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Kartar Singh Thakral, the Founder and an Executive Director of Thakral Corporation Ltd (the "Company", and together with its subsidiaries, the "Group"), and cessation as a member of the Investment Committee of the Company.

Additional Details

Name Of Person
Kartar Singh Thakral
Age
91
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2025
Detailed Reason (s) for cessation
As part of the Board renewal process, Mr. Kartar Singh Thakral has expressed his intention to retire at the conclusion of the Company's Annual General Meeting to be held on 30 April 2025. Mr. Thakral will also cease to be a member of the Investment Committee of the Company upon his retirement.
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
07/10/1993
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Investment Committee Member
Role and responsibilities
Provides insights and guidance on the Group's operations
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
- Father of (i) Mr. Inderbethal Singh Thakral, the Group CEO and Executive Director of the Company, a controlling shareholder of the Company, a director of various principal subsidiaries of the Company and a substantial shareholder of the Company's principal subsidiaries - Thakral Japan Properties Pte. Ltd., TJP Pte. Ltd and Thakral Umeda Properties Pte. Ltd.; (ii) Mr. Rikhipal Singh Thakral, Advisor to the Investment Committee of the Company, a controlling shareholder of the Company, a director of the Company's principal subsidiaries, Thakral Lifestyle Pte. Ltd., Thakral Japan Properties Pte. Ltd., TJP Pte. Ltd and Thakral Umeda Properties Pte. Ltd., a substantial shareholder of the Company's principal subsidiaries - Thakral Japan Properties Pte. Ltd. and Thakral Umeda Properties Pte. Ltd., a controlling shareholder of Company's principal subsidiary - TJP Pte. Ltd; and (iii) Mr. Gurmukh Singh Thakral and Mr. Karan Singh Thakral, controlling shareholders of the Company.

- Grandfather of (i) Mr. Bikramjit Singh Thakral, Non-Independent Non-Executive Director of the Company and a director and substantial shareholder of various principal subsidiaries of the Company; (ii) Mr. Satbir Singh Thakral, Executive Director of the Company's principal subsidiary, Thakral China Ltd; (iii) Mr. Ashmit Singh Thakral, Alternate Director of the Company, and the CFO and Director of GemLife Group, the Group's associated company in over-50s lifestyle resorts in Australia.

- Grand-uncle of Mr. Indergopal Singh Thakral, Managing Director of the Company's principal subsidiary, Thakral China Ltd and a controlling shareholder of the Company.

- Controlling shareholder of the Company with deemed interest in 65,692,560 ordinary shares.

- Director of the Company's principal subsidiaries - Thakral Corporation (HK) Limited, Thakral China Ltd and TJP Pte. Ltd.

- Substantial shareholder of the Company's principal subsidiaries - Thakral Japan Properties Pte. Ltd., TJP Pte. Ltd and Thakral Umeda Properties Pte. Ltd.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Thakral Corporation Ltd
- Deemed interest in 65,692,560 ordinary shares

Subsidiaries:
1. Thakral Japan Properties Pte. Ltd.
- Deemed interest in 566,099 ordinary shares

2. TJP Pte. Ltd.
- Deemed interest in 2,117,581 ordinary shares

3. Thakral Umeda Properties Pte. Ltd.
- Deemed interest in 1,636,000 ordinary shares
Past (for the last 5 years)
1. Express Leasing Pte Ltd
2. Thakral Asia Limited
3. Thakral Holdings (HK) Limited
4. Kingsgate (Melbourne) Pty Ltd
5. Thakral Australia Pty Ltd
6. Thakral Corporation Pty Ltd
7. Thakral Investments Pty Ltd
8. 254 George Street Pty Ltd
9. ACN 101 765 280 Pty Ltd
10. ACN 101 806 099 Pty Ltd
11. ACN 101 765 306 Pty Ltd
12. ACN 104 151 500 Pty Ltd
13. Replay Investments Pty Ltd
14. Sohan Holdings Limited
15. JBS Pte Ltd (F.K.A Sovereign Investments Pte Ltd)
16. Crown Base Investment Limited
17. Thakral Time Piece Pte Ltd
18. Thakral Asia Pte Ltd
19. Thakral Investments Limited
20. In Sewa Foundation Limited
21. Thakral Foundation Limited
Present
Directorships:
1. Thakral Corporation (HK) Limited
2. Thakral Corporation (Mauritius) Limited
3. Thakral China Ltd
4. TJP Pte. Ltd.
5. Thakral (Indo-China) Pte Ltd
6. Purearth Infrastructure Limited

Other principal commitments:
1. Nishan-E-Sikhi Charitable Trust, India - Vice-Chairman and Founder Trustee
2. Singapore Sikh Education Foundation - Trustee
3. Sri Guru Nanak Sat Sang Sabha - Trustee