Change - Announcement of Cessation::Resignation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
Y VENTURES GROUP LTD.
Securities
Y VENTURES GROUP LTD. - SG1DH7000008 - 1F1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Jul-2023 07:09:04
Status
New
Announcement Sub Title
Resignation of Chief Financial Officer
Announcement Reference
SG230703OTHRQGVA
Submitted By (Co./ Ind. Name)
Low Yik Jin
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Financial Officer - Ms Lam May Yih

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST").

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assume 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 Leong Weng Tuck - Registered Professional, 36 Robinson Road, #10-06 City House, Singapore 068877, sponsor@rhtgoc.com

Additional Details

Name Of Person
Lam May Yih
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
31/10/2023
Detailed Reason (s) for cessation
Ms Lam May Yih ("Ms Lam") tendered her resignation as Chief Financial Officer of the Company to pursue personal interest and/or other opportunities. She serves a notice period of 4 months and her last day with the Company will be 31 October 2023.

In the interim period, Ms Lam will be working closely with the Management and Group's finance team, in particular, Mr Teo Sau Hong ("Mr Teo"), the Financial Controller to ensure a smooth transition and handover of her duties. Mr Teo will fully assume the duties of Ms Lam as an Executive Officer of the Company once she has completed serving her notice.

In addition, Ms Lam has confirmed that there were no concerns regarding the financial reporting that led to her departure and there are no disagreements between Ms Lam and the board of directors with regard to practices that will have a material impact on the Group's financial reporting.

Based on its enquiries, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that, saved as disclosed in this announcement, there is no other material reason for the resignation of Ms Lam as the Chief Financial 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
09/05/2020
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)
4
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.)
Chief Financial Officer
Role and responsibilities
Ms Lam is responsible for the overall Group's finance activities and accounting operations, compliance, corporate governance, accounting functions and providing financial strategic planning, budgeting and forecasting.
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)
1. Falcon Energy Projects Pte. Ltd.
2. V Offshore Engineering Pte. Ltd.
Present
1. Vigahs Marine Technologies Pte. Ltd.
2. VMT Holdings Pte Ltd
3. HTL Manufacturing Pte Ltd