Change - Announcement of Cessation::Resignation of Jacob Lee Yen Min as a Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
POLLUX PROPERTIES LTD.
Securities
POLLUX PROPERTIES LTD. - SG1I77884290 - 5AE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Oct-2023 00:26:55
Status
New
Announcement Sub Title
Resignation of Jacob Lee Yen Min as a Director and Chief Executive Officer
Announcement Reference
SG231018OTHR7PRI
Submitted By (Co./ Ind. Name)
Jacob Lee Yen Min
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Jacob Lee Yen Min as a Director and Chief Executive Officer.

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "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 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. Pong Chen Yih, Chief Operating Officer at 7 Temasek Boulevard #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Jacob Lee Yen Min
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
27/10/2023
Detailed Reason (s) for cessation
Jacob Lee Yen Min ("Jacob") has decided to step down from the Board of Company as Executive Director and Chief Executive Officer due his existing health condition.

His role will be assumed by Nico Purnomo Po ("Nico") as of 27 October 2023. Meanwhile, Jacob will work closely with Nico and the management of the Company to ensure a smooth transition.

The Board of Directors and Management sincerely thank him for the invaluable contribution, dedication and commitment to the Company during his tenure with the Company.

After having interviewed Jacob and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Jacob as the Executive Director and Chief Executive Officer 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
31/05/2021
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)
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.)
Executive Director and Chief Executive Officer.
Role and responsibilities
Responsible for the management and operations of the Group and implementation of the Group's strategies and policies.
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
Past (for the last 5 years)
Not applicable
Present
1) Diamond Investments (SG) Pte. Ltd.
2) Emerald Investments (SG) Pte. Ltd.
3) Sapphire Investments (SG) Pte. Ltd.
4) PT. Mitra Investasi Abadi.
5) PT. Investasi Cemerlang Sukses.
6) PT. Sumber Makmur Investasi.