Change - Announcement of Cessation::Cessation of Executive Chairman and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
SEVENS ATELIER LIMITED
Securities
SEVENS ATELIER LIMITED - SG1Q04920423 - 5EW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Jul-2022 18:40:39
Status
New
Announcement Sub Title
Cessation of Executive Chairman and Chief Executive Officer
Announcement Reference
SG220706OTHR4YZS
Submitted By (Co./ Ind. Name)
Lim Xiu Fang, Vanessa
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Chairman and Chief Executive Officer.

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. Foo Jien Jieng, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Richard Koh Chye Heng
Age
74
Is effective date of cessation known?
Yes
If yes, please provide the date
06/07/2022
Detailed Reason (s) for cessation
Unless otherwise defined, all capitalized terms used herein shall have the same meaning as ascribed to them in the circular to shareholder dated 20 May 2022 (the "Circular").

Pursuant to the Disposal SPA as mentioned in the Circular, Mr Richard Koh Chye Heng ("Mr Richard Koh"), after discussion with the Company, shall cease his positions as the Executive Chairman & Chief Executive Officer ("CEO") upon the completion of Sales Shares in Pan Asian Water Solutions (HK) Limited and PA Flow Technology (HK) Limited, which took place on 6 July 2022.

After having interviewed Mr Richard Koh 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 reason for the cessation of Mr Richard Koh as the Executive Chairman & CEO.
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
26/05/2008
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and CEO
Role and responsibilities
Mr. Richard Koh is responsible for the overall management of the Group's operations, as well as the formulating and implementing the Group's business strategies.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
None.
Present
Xu Jia Zu Holdings Pte. Ltd.

Duvalco International Pte. Ltd.

(and all subsidiaries within the previous business of Pan Asian Holdings Limited group)