Change - Announcement of Cessation::Cessation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
AUTAGCO LTD.
Securities
AUTAGCO LTD. - SG1DF7000002 - 1D3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Feb-2025 23:29:21
Status
New
Announcement Sub Title
Cessation of Lead Independent Director
Announcement Reference
SG250220OTHRU1CD
Submitted By (Co./ Ind. Name)
Ng Boon Hui
Designation
Executive Chairman and 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, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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 Ms Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Lim Yit Keong
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
07/03/2025
Detailed Reason (s) for cessation
Mr Lim Yit Keong ("Mr Lim") has tendered his resignation as Independent Director of the Board as part of his retirement plan.

The Company would like to express its gratitude and appreciation towards Mr Lim for his valuable contributions to the Board during his tenure.

The Sponsor, after having interviewed Mr Lim, is satisfied that, save as disclosed in the announcement, there are no material reasons for the resignation of Mr Lim as Lead Independent 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
The auditor of the Company, Forvis Mazars LLP, has issued a disclaimer of opinion on the audited financial statements of the Company and the Group for the financial year ended 31 July 2024 ("FY2024"). Please refer to the Company's FY2024 annual report and announcement dated 20 February 2025 for further information.

The Company is in the midst of identifying new director candidates and will endeavour to fill the vacancies in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules and the Code of Corporate Governance 2018. The Company will make relevant announcement on the composition of the Board and the Board Committees of the Company after such appointment.
Date of Appointment to current position
30/04/2019
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of Audit Committee, Member of Nominating Committee and Remuneration Committee
Role and responsibilities
Lead Independent Director, Chairman of Audit Committee, Member of Nominating Committee and Remuneration Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
China Kunda Technology Holdings Limited
Present
Capital Consulting Pte. Ltd.