Change - Announcement of Cessation::Resignation of Chief Executive Officer and Redesignation as Non-Executive Non-Independent Chairman

Issuer & Securities

Issuer/ Manager
17LIVE GROUP LIMITED
Securities
17LIVE GROUP LIMITED W281207 - KYG9481M1116 - VT2W
17LIVE GROUP LIMITED - KYG8074N1060 - LVR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Aug-2024 17:15:21
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer and Redesignation as Non-Executive Non-Independent Chairman
Announcement Reference
SG240813OTHRINVZ
Submitted By (Co./ Ind. Name)
Eunice Hooi
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Executive Officer and Redesignation as Non-Executive Non-Independent Chairman


DBS Bank Ltd. acted as the sole issue manager for the business combination of Vertex Technology Acquisition Corporation Ltd with 17LIVE Inc.

Additional Details

Name Of Person
Phua Jiexian, Joseph
Age
40
Is effective date of cessation known?
Yes
If yes, please provide the date
13/08/2024
Detailed Reason (s) for cessation
The Company refers to the announcement on the appointment of Mr Jiang Honghui as Chief Executive Officer ("CEO").

Following Mr Jiang Honghui's promotion as CEO and appointment as Executive Director of the Company, Mr Phua Jiexian, Joseph will step down as CEO but remained as Chairman of the Board. Consequently, he will be redesignated as Non-Executive Non-Independent Chairman with immediate effect.

Mr Phua, in his role as Chairman of the Company, will continue to guide the Group in its overall strategic direction and work closely with Mr Jiang in an advisory role for the daily operations.
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
26/01/2024
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
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Chairman
Role and responsibilities
Responsible for the Group's overall operations and strategic direction.
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?
Yes
Shareholding Details
Mr Phua holds 30,000 ordinary shares in the capital of the Company in his own name.

Mr Phua is also deemed to be interested in the shares held by Dragon Alexander Limited which he holds 100% shareholding interest therein by virtue of Section 4 of the Securities and Futures Act 2001. Dragon Alexander Limited holds 16,055,627 ordinary shares in the capital of the Company.
Past (for the last 5 years)
Paktor Pte. Ltd.
Present
- Zuvio Tech Co., Ltd.
- Goodnight Hi-Tech Pte. Ltd.
- Pole Star Global Pte. Ltd.
- Seadom Pte. Ltd.
- SoundOn Inc.
- Theodore Alexander International Inc.
- Turn Capital Pte. Ltd.
- Flash Coffee TH Holding Co., Ltd
- Flash Coffee TH Co., Ltd
- LYNN F.C. LIMITED
- Gaigai Pte. Ltd.
- Avana Global Limited
- Dragon Alexander Limited