Change - Announcement of Cessation::Cessation of Executive Chairman and Acting Chief Executive Officer

Issuer & Securities

Issuer/ Manager
EPICENTRE HOLDINGS LIMITED
Securities
EPICENTRE HOLDINGS LIMITED - SG1W52939285 - 5MQ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Jul-2019 23:41:30
Status
New
Announcement Sub Title
Cessation of Executive Chairman and Acting Chief Executive Officer
Announcement Reference
SG190730OTHRT78N
Submitted By (Co./ Ind. Name)
Lai Choong Hon
Designation
Independent Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It 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 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 Mr. Bernard Lui, Telephone: +65 6389 3000, Email: bernard.lui@morganlewis.com.

Additional Details

Name Of Person
Lim Tiong Hian
Age
44
Is effective date of cessation known?
Yes
If yes, please provide the date
30/07/2019
Detailed Reason (s) for cessation
We refer to the Company's announcements dated 30 May 2019, 12 June 2019 and 25 July 2019, in relation to Mr. Lim Tiong Hian ("Mr. Lim") being uncontactable since 24 May 2019.

The Company has terminated Mr. Lim's contract of employment with the Company because he has been entirely uncontactable since 24 May 2019. Mr. Lim has not informed the Company of any excuse for his absence despite the Company providing him with ample opportunity to provide reasonable excuses for his absence. Mr. Lim has broken his contract of service with the Company and wilfully breached his contract of employment with the Company. As such, Mr Lim's contract of employment was terminated with immediate effect.
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?
Yes
If Yes, Please provide full details
Please refer to the Company's announcements dated 25 July 2019, 27 June 2019, 12 June 2019 and 30 May 2019.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
31/07/2016
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)
3
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.)
Executive Chairman and Acting Chief Executive Officer
Role and responsibilities
Responsible for setting the strategic direction and tracking of financial and profitability growth of the Group, as well as managing the business and overseeing all aspects of the daily operation of the Company.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
2,432,000 (1.53%)
Past (for the last 5 years)
(1) Epicentre Pte. Ltd.
(2) Epicentre Solutions Pte. Ltd.
(3) Epi Lifestyle Pte. Ltd.
(4) Epicentre Lifestyle Sdn Bhd
(5) Japan IPL Holdings Pte. Ltd.
(6) Sino Construction Limited
Present
(1) SFC Capital Pte. Ltd.
(2) Broadwell Pte. Ltd.
(3) Broadwell Limited