Change - Announcement of Cessation::Resignation of Independent and Non-Executive Director
Issuer & Securities
AP OIL INTERNATIONAL LIMITED
AP OIL INTERNATIONAL LIMITED - SG1K10892752 - 5AU
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Independent and Non-Executive Director
Submitted By (Co./ Ind. Name)
Ho Chee Hon
Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Mr Quah Ban Huat will be stepping down as director after the Annual General Meeting which will be held on 28 April 2021 ("AGM").
Name Of Person
Quah Ban Huat
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To institute a progressive renewal of the Board membership, AP Oil International Limited (the "Company") commenced search process in 2020 to select new independent directors. This was completed with the appointment of Mr Mah How Soon ("Mr Mah") and Mr Wan Kum Tho ("Mr Wan") on 4 January 2021. In this connection and to comply with the SGX Listing rule 210(5)d(iii), Mr Quah Ban Huat ("Mr Quah") will be stepping down as Lead Independent and Non-Executive Director of the Company after the AGM with effect from 29 April 2021; and he will concurrently relinquish his position as Chairman of the Audit Committee and Remuneration Committee, and member of the Nominating Committee.
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.)
Lead Independent Director, Chairman of Audit Committee and Remuneration of Committee, Member of Nominating Committee
Role and responsibilities
Independent and 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)
1) Samudera Shipping Line Ltd
2) mDR Limited
1) Croesus Retail Asset Management Pte Ltd, Trustee-manager of Croesus Retail Trust