Change - Announcement of Cessation::RETIREMENT OF INDEPENDENT DIRECTOR
Issuer & Securities
SINGAPORE O&G LTD.
SINGAPORE O&G LTD. - SG1DG2000005 - 1D8
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
RETIREMENT OF INDEPENDENT DIRECTOR
Submitted By (Co./ Ind. Name)
Dr. Beh Suan Tiong
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Ms. Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, email@example.com.
Name Of Person
Chan Heng Toong
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Chan Heng Toong is subject to retirement pursuant to Article 91 of the Company's Constitution at the forthcoming Annual General Meeting to be held on 23 April 2021 ("2021 AGM") and do not wish to seek re-election to enable younger independent directors to come in to rejuvenate the Board and to focus on his personal commitments. Accordingly, he will retire as an Independent Director, Chairman of the Nominating Committee ("NC") and member of the Audit Committee ("AC") and Remuneration Committee ("RC") at the conclusion of the 2021 AGM.
After having interviewed Mr Chan Heng Toong and to the best of its knowledge, 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 cessation of Mr Chan Heng Toong as an Independent Director of the Company.
The Company will take appropriate action to fill the vacancy so as to meet with the requirement of the Catalist Rules on the minimum number of members in the Audit Committee.
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, NC Chairman, AC Member and RC Member
Role and responsibilities
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?
200,000 ordinary shares in the Company
Past (for the last 5 years)
XMH Holdings Ltd.
City Gate Pte. Ltd.