Change - Announcement of Cessation::Cessation of Directorship - Mr Teo Chew Seng @ Peter Chang

Issuer & Securities

Issuer/ Manager
SKY ONE HOLDINGS LIMITED
Securities
SKY ONE HOLDINGS LIMITED - SG1W50939246 - 5MM

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Mar-2014 17:16:29
Status
New
Announcement Sub Title
Cessation of Directorship - Mr Teo Chew Seng @ Peter Chang
Announcement Reference
SG140326OTHRQV68
Submitted By (Co./ Ind. Name)
Dicky Suen Yiu Chung
Designation
Director
Effective Date and Time of the event
26/03/2014 17:00:00
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Teo Chew Seng @ Peter Chang ("Mr Peter Chang") as a Non-Executive Director and Chairman of the Board. Cessation of Mr Peter Chang as member of the Audit and Remuneration Committees concurrently with his resignation as a Director of the Company.


Canaccord Genuity Singapore Pte. Ltd. after having interviewed Mr Peter Chang, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Peter Chang.


This announcement has been prepared by the Company and its contents have been reviewed by the Company?s Sponsor (?Sponsor?), Canaccord Genuity Singapore Pte. Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (?SGX-ST?). The Sponsor has not independently verified the contents of this announcement.


This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes 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 Alex Tan, Chief Executive Officer, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.

Additional Details

Name Of Person
Teo Chew Seng @ Peter Chang
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
26/03/2014
Detailed Reason (s) for cessation
Mr Peter Chang is a key executive in a number of other large enterprises. His daily responsibilities there have grown and increasingly demand more of his time. As such, Mr Peter Chang has determined that he is not able to devote the necessary attention to his responsibilities and duties as a Director of the Company. His cessation as Director will open the way for a more suitable person to take on those responsibilities.
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?
Yes
If Yes, Please provide full details
Taking into account the cessation of Mr Peter Chang, the Audit Committee has less than 3 members. Please refer to a separate announcement regarding the reconstitution of the Board and Board Committees for further information.
Date of Appointment to current position
28/01/2008
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.)
Chairman of the Board and Non-Executive Director
Role and responsibilities
Mr Peter Chang is primarily responsible for the working of the Board and reviewing the effectiveness of the corporate governance process of the Board. He is responsible for representing the Board to shareholders, overseeing the overall business strategy and expansion of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Please see the attached file.
Present
Please see the attached file.

Attachments

PresentDirectorshipsPC.pdf
Past5YrsDirectorshipsPC.pdf
Total size =15K