Change - Announcement of Cessation::Resignation of Independent Director
Issuer & Securities
AVARGA LIMITED - SG1K55001665 - U09
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Independent Director
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Resignation of Garson David Lee ("Garson") as Independent Director of the Company.
Name Of Person
Garson David Lee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Garson has retired on his own accord to concentrate on his personal business pursuits.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Member of the Audit & Risk Management Committee and the Remuneration Committee.
Role and responsibilities
Garson is an Independent Director of the Company and member of (1) Audit & Risk Management Committee; and (2) Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
- 1,300,000 ordinary shares (deemed interest arises from his spouse, Marie Lee, having direct interest in Avarga Limited)
- 1,300,000 bonus warrants (deemed interest arises from his spouse, Marie Lee, having direct interest in Avarga Limited)
Past (for the last 5 years)
Emerwood Home Products Ltd
1. G.D. Lee Inc.
2. 0860486 B.C. Ltd.
3. Vancouver Bullion and Currency Exchange Ltd