Change - Announcement of Cessation::Resignation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
VALUETRONICS HOLDINGS LIMITED
Securities
VALUETRONICS HOLDINGS LIMITED - BMG9316Y1084 - BN2
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Nov-2022 18:05:12
Status
New
Announcement Sub Title
Resignation of Lead Independent Director
Announcement Reference
SG221121OTHRFJ54
Submitted By (Co./ Ind. Name)
Tse Chong Hing
Designation
Chairman and Managing Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Ong Tiew Siam as an Independent Director, the Lead Independent Director, the Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee of the Company.

Additional Details

Name Of Person
Ong Tiew Siam
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
21/11/2022
Detailed Reason (s) for cessation
Having served on the Board for close to 9 years since his appointment on 22 July 2014, Mr Ong Tiew Siam has decided to step down as Independent Director of the Company for progressive renewal of the Board.

Accordingly, Mr Ong also ceased as the Lead Independent Director, the Chairman of the Audit Committee and a member of the Nominating Committee and Remuneration Committee 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
22/07/2014
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Lead Independent Director, Chairman of Audit Committee, member of Nominating Committee and member of Remuneration Committee
Role and responsibilities
Role and responsibilities of an Independent Director, Lead Independent Director, Chairman of the Audit Committee, member of the Nominating Committee and member of the 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
Other Directorships
Past (for the last 5 years)
(1) Tat Hong Holdings Limited
(2) Design Studio Group Limited
Present
CSC Holdings Limited