Change - Announcement of Cessation::Cessation of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
9R LIMITED
Securities
9R LIMITED - SGXE45420721 - 1Y1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-May-2024 17:36:39
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer
Announcement Reference
SG240531OTHRVYYZ
Submitted By (Co./ Ind. Name)
Lai Kuan Loong, Victor
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer ("CEO")

This announcement has been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (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. Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
Ong Swee Sin
Age
40
Is effective date of cessation known?
Yes
If yes, please provide the date
15/06/2024
Detailed Reason (s) for cessation
As part of the Group's internal restructuring, Mr Ong Swee Sin will relinquish his position as Chief Executive Officer ("CEO") of the Company. He will remain as an Executive Director of the Company to focus on the corporate and strategic affairs of the Group.

The Board has identified a potential candidate to take over Mr Ong's duties as CEO, and will make the necessary announcement once the necessary due diligence has been completed.

Based on its enquiries, the Sponsor is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Ong as the 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
01/06/2022
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)
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.)
Executive Director and CEO
Role and responsibilities
Mr Ong Swee Sin assumes the roles and responsibilities of an Executive Director and CEO of the Company and oversees the overall management, operations and setting of corporate strategies of the Group.
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?
Yes
Shareholding Details
Mr Ong Swee Sin holds 100% of the shares in SSCM Sdn. Bhd. ("SSCM") and is deemed interested in the 20,419,958 shares and 8,167,982 warrants of 9R Limited held by SSCM.
Past (for the last 5 years)
1. Obviously Blue Sdn. Bhd.
2. Incredible Spark Sdn. Bhd.
3. Power Nutriboost Sdn. Bhd.
4. Dominant Resowave Sdn. Bhd.
5. Tinnolab Sdn. Bhd.
Present
1. Diverse Supply Chain (SG) Pte. Ltd.
2. Viking Asset Management Pte. Ltd.
3. 9R Management Sdn. Bhd.
4. Diverse Supply Chain Sdn. Bhd.
5. 9R Leisure Sdn. Bhd.
6. GR9 Jewel Sdn. Bhd.
7. Compact Sensation Sdn. Bhd.
8. 9R Canary Sdn. Bhd.
9. Lavish Pearl Sdn. Bhd.
10. Booming Gain Sdn. Bhd.
11. Redbox(1st Avenue) Sdn. Bhd.
12. Sunlight Ventures Sdn. Bhd.
13. Lovely Pyramid Sdn. Bhd.
14. Majestic Glory Sdn. Bhd.
15. Cheer Bonanza Sdn. Bhd.
16. SSCM Sdn. Bhd.
17. Moments View Enterprise