Change - Announcement of Cessation::Announcement of Stepping Down of Executive Chairman

Issuer & Securities

Issuer/ Manager
LHT HOLDINGS LIMITED
Securities
LHT HOLDINGS LIMITED - SG1BG5000006 - BEI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Apr-2024 21:37:34
Status
New
Announcement Sub Title
Announcement of Stepping Down of Executive Chairman
Announcement Reference
SG240424OTHRAPKS
Submitted By (Co./ Ind. Name)
Sally Yap Mei Yen
Designation
Corporate Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of Stepping Down of Executive Chairman, Ms Yap Mui Kee.

Additional Details

Name Of Person
Yap Mui Kee
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
23/04/2024
Detailed Reason (s) for cessation
The Board was of the view that upon the appointment of Non Independent, Non-Executive Chairman, Mr Li Suet Man, he will provide strategic leadership to the Board in creating long term value for the Company and the Group. It is also in line with good corporate governance practice to separate the role of Chairman of the Board from that of the Managing Director/Chief Executive Officer.

Upon Mr Li's appointment as Chairman of the Board, Ms Yap Mui Kee shall cease to be the Executive Chairman of the Board.

Ms Yap Mui Kee remains as the Managing 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
10/02/2017
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)
3
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.)
Managing Director and CEO
Role and responsibilities
Ms Yap Mui Kee is the Managing Director and CEO of the Company and is responsible for the overall leadership of the Board, including translating the Board's decisions into Executive action and is accountable to the Board for the outcome.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Sister of Sally Yap Mei Yen, Alternate Director
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
9,146,632 shares in LHT Holdings Limited
Past (for the last 5 years)
1. January 1988 to present Executive Director of LHT Holdings Limited
2. 26 February 2016 was appointed as Acting Managing Director
3. 10 February 2017 to 22 April 2024 - Chairperson, Managing Director and CEO
4. 1988 to present - Executive Director of Kim Hiap Lee Co. (Pte) Ltd
5. 1998 to present - Executive Director of LHT Marketing Pte Ltd
6. 2008 to present - Executive Director of LHT Ecotech Resources Pte Ltd
7. 2004 to present - Executive Director of Lian Hup Packaging Industries Sdn Bhd
8. 2015 to present - Executive Director of Siri Belukar Packaging Sdn Bhd
9. 2013 to present - Executive Director of LHT Gpac Technology (M) Sdn Bhd
10. 2012 to present - Executive Director and legal representative of LHT Ecotech Resources (Tianjin) Company Limited
11 2017 to present - Chairperson and First Legal Representative of LHT ECR Packaging (Vietnam) Company Limited
Present
1. January 1988 to present Executive Director of LHT Holdings Limited
2. 26 February 2016 was appointed as Acting Managing Director
3. 10 February 2017 to 22 April 2024 - Chairperson, Managing Director and CEO
4. 1988 to present - Executive Director of Kim Hiap Lee Co. (Pte) Ltd
5. 1998 to present - Executive Director of LHT Marketing Pte Ltd
6. 2008 to present - Executive Director of LHT Ecotech Resources Pte Ltd
7. 2004 to present - Executive Director of Lian Hup Packaging Industries Sdn Bhd
8. 2015 to present - Executive Director of Siri Belukar Packaging Sdn Bhd
9. 2013 to present - Executive Director of LHT Gpac Technology (M) Sdn Bhd
10. 2012 to present - Executive Director and legal representative of LHT Ecotech Resources (Tianjin) Company Limited
11 2017 to present - Chairperson and First Legal Representative of LHT ECR Packaging (Vietnam) Company Limited
12. 23 Apr 2024 to Present - Managing Director and CEO of LHT Holdings LiImited

Attachments

LHT_ 2024_0424_Ann_New_Chairman_of_Board_FINAL.pdf
Total size =40K