Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
SINGAPORE KITCHEN EQUIPMENT LIMITED
Securities
SINGAPORE KITCHEN EQUIPMENTLTD - SG2F97994568 - 5WG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Sep-2021 22:24:47
Status
New
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
SG210929OTHRKTBJ
Submitted By (Co./ Ind. Name)
Chua Chwee Choo
Designation
Executive Director & Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor") in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. 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 Eric Wong (Director, Investment Banking). The contact particulars are 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, telephone: +65 6337 5115.

Additional Details

Name Of Person
Lui Hin Weng Samuel
Age
46
Is effective date of cessation known?
Yes
If yes, please provide the date
29/09/2021
Detailed Reason (s) for cessation
Main reason is due to Mr Lui Hin Weng Samuel's ("Samuel") existing work commitments and hence he is unable to allocate sufficient time and resources to perform his duties and an Independent Director of the Company. In addition, he is based overseas and it has been very difficult to travel back to Singapore since early 2020 due to the travelling restrictions arising from COVID-19. Given this, it is more appropriate for the Company to rely on the existing Directors who are all based in Singapore and will be able to exercise their duties as an Independent Director in a more effective and efficient manner.

Based on its enquiries, the Company's sponsor CIMB Bank Berhad, Singapore Branch is satisfied that, saved as disclosed, there is no other material reason for the cessation of Samuel as Independent Non-Executive 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?
Yes
If Yes, Please provide full details
None, save for matters as disclosed in the Company's announcement "Update on additional review of audit of the Financial Statements FY2020 and Voluntary Suspension" dated 11 August 2021.
Date of Appointment to current position
18/05/2018
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, member of Nominating Committee, Audit Committee and Remuneration Committee
Role and responsibilities
Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N/A
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
N/A
Present
EFT Solutions Holdings Limited