Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
NO SIGNBOARD HOLDINGS LTD
Securities
NO SIGNBOARD HOLDINGS LTD. - SG1EA9000009 - 1G6
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-May-2022 22:31:45
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG220531OTHRJGYP
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Joint Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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. Shervyn Essex, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Lim Lay Hoon
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
14/06/2022
Detailed Reason (s) for cessation
Ms Lim Lay Hoon ("Ms Lim") is resigning as an Executive Director to focus solely on her role as Chief Operating Officer in light of the current financial situation of the Company.

The cessation will also facilitate the appointment of the nominated directors following the entry of the super priority financing agreement between the Company and Gazelle Ventures Pte. Ltd. as announced on 25 May 2022, so as to maintain adequate independence and appropriate size of the Board in accordance with the Code of Corporate Governance.

The Company would like to express its gratitude and appreciation towards Ms Lim's contributions to the Board during her tenure.

The Sponsor, after having interviewed Ms Lim, is satisfied that, save as disclosed in the announcement, there are no material reasons for the resignation of Ms Lim as the Executive 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
06/11/2017
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Operating Officer
Role and responsibilities
Ms Lim is responsible for overseeing the day to day operations of the Group including the management and operations of the Restaurant Business.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Sister of Lim Yong Sim (Executive Chairman and CEO)

Director and member of Gugong Pte Ltd (controlling shareholder)
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
Food Terminal Trading Pte. Ltd.
NSB-Crab Factory Pte. Ltd.
NSB-Crab Factory (China) Pte. Ltd.
NSB-IP Holdings Pte. Ltd.
NSB-Mom's Touch Pte. Ltd.
Hawker QSR Pte. Ltd. (Under liquidation)
NSB Franchisees Pte. Ltd.
NSB Noodles Pte. Ltd.
NSB Hotpot Pte. Ltd.
NSB Restaurants Pte. Ltd.
NSB Mom's Touch Sdn Bhd
Gugong Pte. Ltd.