Change - Announcement of Cessation::Re-designation of Executive Chairman and CEO to Executive Chairman - Mr. Chan Andrew Wai Men

Issuer & Securities

Issuer/ Manager
SINOCLOUD GROUP LIMITED
Securities
SINOCLOUD GROUP LIMITED - BMG8191N1048 - 5EK
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Feb-2021 18:07:52
Status
New
Announcement Sub Title
Re-designation of Executive Chairman and CEO to Executive Chairman - Mr. Chan Andrew Wai Men
Announcement Reference
SG210218OTHRX4D7
Submitted By (Co./ Ind. Name)
Chan Andrew Wai Men
Designation
Chairman and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Chan Andrew Wai Men
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
19/02/2021
Detailed Reason (s) for cessation
In order to focus on the Group's next stage of growth, Mr. Chan Andrew Wai Men ("Mr. Chan") will relinquish his appointment as Chief Executive Officer of the Company ("CEO") and remain as the Executive Chairman to focus on leading the board and to ensure an appropriate balance of power and increased accountability.

The Company will be appointing Mr. Luk Siu Fung, Mark (Executive Director) as the CEO with effect from 19 February 2021.
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
08/09/2015
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
As the CEO of the Company, Mr. Chan was responsible for strategic planning, overall management and business development of the Group. As Executive Chairman of the Company, he is responsible for leading the board of directors ("Board") to ensure its effectiveness on all aspects of its role and set its agenda, promoting a culture of openness and debate at the Board.
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?
Yes
Shareholding Details
Mr. Chan has interest in 457,671,000 shares in the capital of the Company, representing approximately 2.88% of the Company.
Past (for the last 5 years)
Please see attached list.
Present
Please see attached list.

Attachments

List of Directorship for Chan Andrew Wai Men.pdf
Total size =185K