Change - Announcement of Cessation::Retirement of Independent Director who is an audit committee member

Issuer & Securities

Issuer/ Manager
NICO STEEL HOLDINGS LIMITED
Securities
NICO STEEL HOLDINGS LIMITED - SG1R29924672 - 5GF

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jun-2014 19:45:42
Status
New
Announcement Sub Title
Retirement of Independent Director who is an audit committee member
Announcement Reference
SG140626OTHRIXD7
Submitted By (Co./ Ind. Name)
Sharon Yeoh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of retirement of Mr Chan Chung Wai as an Independent Director.

Additional Details

Name Of Person
Chan Chung Wai
Age
44
Is effective date of cessation known?
Yes
If yes, please provide the date
26/06/2014
Detailed Reason (s) for cessation
Retired by rotation at the Annual General Meeting held on 26 June 2014 and did not seek for re-election.
Mr Chan Chung Wai has served on the Board for more than 9 years. His retirement was part of the Board's plan of Board rejuvenation.
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
24/11/2004
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)
1
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.)
Lead Independent Director
Chairman of Audit Committee
Member of Nominating Committee
Member of Remuneration Committee
Role and responsibilities
Fulfilling the responsibilities of a Lead Independent Director, Chairman of Audit Committee, member of Nominating Committee and member of Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
CCFH Ltd
Present
Nil