Change - Announcement of Cessation::Resignation of Chua Siong Kiat as Independent Director

Issuer & Securities

Issuer/ Manager
CHINA STAR FOOD GROUP LIMITED
Securities
CHINA STAR FOOD GROUP LIMITED - SG1CE1000003 - 42W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Aug-2020 19:17:32
Status
New
Announcement Sub Title
Resignation of Chua Siong Kiat as Independent Director
Announcement Reference
SG200831OTHRIJ6S
Submitted By (Co./ Ind. Name)
Lim Kok Meng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. ("Sponsor") in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assume 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 contact person for the Sponsor is Mr Pong Chen Yih, Chief Operating Officer, at 9 Raffles Place, #17-05
Republic Plaza Tower 1, Singapore 048619, telephone (65) 6950 2188.

Additional Details

Name Of Person
Chua Siong Kiat
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
30/08/2020
Detailed Reason (s) for cessation
Due to health reasons, whereby Mr Chua Siong Kiat ("Mr Chua") is acting upon medical advice to reduce his workload and other principal commitments so as to recuperate and recover his health.

The Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), had on 31 August 2020, conducted an exit interview with Mr Chua Siong Kiat. After having interviewed Mr Chua, and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Chua as an Independent 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
26/09/2019
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director
RC Chairman
AC Member
NC Member
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes, Mr Chua is currently a director as well as a shareholder of Starwork Vision Pte Ltd ("Starwork"), holding approximately 4% of the shares of Starwork. The majority and controlling shareholder of Starwork is PTS Capital Pte Ltd, a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
China Star Food Group Limited
Omni Sharing Pte Ltd
Pacific Star Development Limited
Durabeau Industries Pte Ltd
LH Aluminium Industries Pte Ltd
Autotrax International Pte Ltd
Autovox Korea Co., Ltd
V Capital Investment Pte Ltd
Libra Group Limited
Present
Axington Inc.
New Silkroutes Group Limited
Kitchen Culture Holdings Ltd.
Lighthouse Business Consulting Pte Ltd
National Arthritis Foundation
Starwork Vision Pte Ltd
Robotic Vision Inc. Pte Ltd