Change - Announcement of Cessation::Retirement of Executive Director - Mr Tan Kwong Soon

Issuer & Securities

Issuer/ Manager
PNE MICRON HOLDINGS LTD
Securities
PNE MICRON HOLDINGS LTD - SG1M25902545 - 5BS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Sep-2014 17:49:19
Status
New
Announcement Sub Title
Retirement of Executive Director - Mr Tan Kwong Soon
Announcement Reference
SG140926OTHR8EEQ
Submitted By (Co./ Ind. Name)
Tan Tee Ching
Designation
Company Secretary / CFO
Effective Date and Time of the event
26/09/2014 17:05:00
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Mark Liew, Managing Director, Corporate Finance, at 20 Cecil Street, #21-02 Equity Plaza, Singapore 049705, telephone (65) 6229 8088.

Additional Details

Name Of Person
Tan Kwong Soon
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
01/10/2014
Detailed Reason (s) for cessation
Retirement as Director of the Company and the other subsidiaries of the PNE Group of Companies.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Tan as the Executive Director of the Group.
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?
Yes
If Yes, Please provide full details
Mr. Tan Kong Sin, the Executive Director and CEO of the Company, will assume the duties and responsibilities of Mr. Tan on a temporary basis until such time when a suitable candidate is identified.
Date of Appointment to current position
14/03/2002
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.)
Executive Director
Role and responsibilities
Responsible for overseeing the finance and accounting of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Tan is the brother of the Company's Non-Executive Chairman, Mr Tan Kong Heng and the Company's CEO, Mr Tan Kong Sin.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
10,624,000 shares
Past (for the last 5 years)
1. PNE Micron Engineering Pte. Ltd.
2. PNE-Sino Pte. Ltd.
3. PNE Resources Pte. Ltd.
4. CED Sytem Sdn. Bhd.
5. Hong Nam Industry (M) Sdn. Bhd.
6. Macore Technology (M) Sdn. Bhd.
7. PNE Marvellous Sdn. Bhd.
8. PNE Micron (Kuala Lumpur) Sdn. Bhd.
9. PNE PCB Berhad
10. PNE Precision Sdn. Bhd.
11. PNE Aquaculture Pte. Ltd.
(In Creditors' Voluntary Winding Up)
12. PNE Plas Pte. Ltd.
(In Creditors' Voluntary Winding Up)
13. Actrolite Sdn. Bhd. (In Creditors' Voluntary Winding Up)
14. PNE Aquaculture Sdn. Bhd.
(In Creditors' Voluntary Winding Up)
15. PNE Marine Farming Sdn. Bhd. (In Creditors' Voluntary Winding Up)
16. PNE Electronics Sdn. Bhd. (Court Winding Up)
17. PNE Plas Sdn. Bhd. (Court Winding Up)

Present
1. PNE Industries Ltd.
2. PNE Appliance Controls Pte. Ltd.
3. PNE Electric Sdn. Bhd.
4. Da Xi Enterprises Ltd.
5.PNE Circuits Sdn. Bhd.
6. PNE PCB Pte. Ltd.
7. Brilliance Resources Sdn. Bhd.
8. Duolink Networks Sdn. Bhd.
9. General Leader (M) Sdn. Bhd.
10. Simi Ocean Sdn. Bhd.