Change - Announcement of Cessation::Retirement of Independent and Non-Executive Director

Issuer & Securities

Issuer/ Manager
SAMKO TIMBER LIMITED
Securities
SAMKO TIMBER LIMITED - SG1W64939547 - E6R
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Apr-2024 19:02:21
Status
New
Announcement Sub Title
Retirement of Independent and Non-Executive Director
Announcement Reference
SG240426OTHRZZRD
Submitted By (Co./ Ind. Name)
Riko Setyabudhy Handoko
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent and Non-Executive Director

Additional Details

Name Of Person
Sim Idrus Munandar
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
In line with the mandatory 9-year tenure limit for independent director to serve on the Board under the new requirements of the SGX-ST Listing Rules, Mr Sim Idrus Munandar has retired by rotation pursuant to Article 94 of the Company's Constitution as an Independent Director of the Company at the conclusion of the Annual General Meeting held on 26 April 2024 to facilitate the Board renewal process. Upon his retirement, he has also relinquished his roles in the respective Board Committees and ceased as the Chairman of the Nomination Committee ("NC") and Board Risk Committee ("BRC"), and a member of the Audit Committee ("AC")and Remuneration Committee ("RC") of the Company respectively.
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
14/12/2007
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent and Non-Executive Director, Chairman of the NC and BRC, and a member of the AC and RC
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
None
Present
1. Kencana Agri Limited
2. PT Kencana Energi Lestari Tbk