Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
E2-CAPITAL HOLDINGS LIMITED
Securities
E2-CAPITAL HOLDINGS LIMITED - SG1CB5000005 - 42S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Nov-2015 23:19:06
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG151119OTHRQP48
Submitted By (Co./ Ind. Name)
Cheng Lisa
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr. Thomas Lam, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (+65) 6229 8088.

Additional Details

Name Of Person
Lam Kin, Lionel
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
19/11/2015
Detailed Reason (s) for cessation
Under the terms of the conditional sale and purchase agreement dated 17 September 2014 (as amended and supplemented by the supplemental sale and purchase agreement dated 6 May 2015 and the further supplemental sale and purchase agreement dated 21 August 2015) entered into between the Company, the APL Shareholders and the APL Ultimate Shareholders for the sale by the APL Shareholders and the purchase by the Company of the Economic Interest for the Consideration (the "Proposed Acquisition"), it is a Condition Precedent that Lam Kin, Lionel resigned as an Independent Director of the Company upon the completion of the Proposed Acquisition.

Based on its enquires, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Lam Kin, Lionel as the 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?
No
Date of Appointment to current position
23/12/2008
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, member of Audit Committee, Chairman of Nominating Committee and Remuneration Committee
Role and responsibilities
Independent Director, member of Audit Committee, Chairman 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)
Vigers Asia Pacific Ltd.
Present
1. The Community Chest of Hong Kong
2. Dr. Stanley Ho Medical Development Foundation