Change - Announcement of Cessation::Resignation of Executive Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
TOTM TECHNOLOGIES LIMITED
Securities
TOTM TECHNOLOGIES LIMITED - SG1BF8000005 - 42F
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-May-2025 21:07:56
Status
New
Announcement Sub Title
Resignation of Executive Director and Chief Executive Officer
Announcement Reference
SG250528OTHR3W4D
Submitted By (Co./ Ind. Name)
Pierre Prunier
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director and Chief Executive Officer - Irawan Mulyadi

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Charmian Lim (telephone no.: +65 6232 3210) at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Irawan Mulyadi
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
27/05/2025
Detailed Reason (s) for cessation
Mr Irawan Mulyadi ("Mr Irawan") has tendered his resignation as an Executive Director and Chief Executive Officer ("CEO") of the Company with effect from 27 May 2025 to facilitate Board and management renewal having considered the requisition notice dated 7 May 2025. The Company received his resignation letter in the late evening of 27 May 2025. Mr Irawan remains a Commissioner of PT International Biometrics Indonesia, a wholly-owned subsidiary of the Company.

Mr. Irawan's six-month notice period as CEO has been mutually waived by both parties. His resignation is effective as of May 27, 2025. In the interim, the management team will be led by Mr Pierre Prunier, Executive Director of the Company while the Board searches for a suitable replacement.

In light of the resignations of Mr Irawan, Mr Phang Yew Kiat and Dhanie Tri Indrasto, details of which are set out in separate announcements released on SGXNet on 28 May 2025 in accordance with Rule 704(6)(a) of the Listing Manual Section B: Rules of Catalist of the SGX-ST ("Catalist Rules"), the remaining members of the Board comprises of 1 Executive Director and 1 Independent Director. The remaining members of the Board will endeavour to appoint additional members to the Board to comply with Rule 406(3)(c) and Rule 704(7) of the Catalist Rules within two months, but in any case not later than three months.

The Company's Sponsor, SAC Capital Private Limited, after having interviewed Mr Irawan, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Irawan as Executive Director and Chief Executive Officer 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?
Yes
If Yes, Please provide full details
Mr Irawan would like to bring to shareholders' attention that there are current ongoing government projects which he has been spearheading since his appointment as CEO in October 2024 and his departure may potentially cause disruptions to the said projects.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
22/10/2024
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
7
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer

Role and responsibilities
Overseeing the Company's overall operations and strategic direction.

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. Irawan is deemed to be interested in 26,214,297 ordinary shares, representing 1.92% of the total issued share capital of the Company. He also holds 5,000,000 share options granted under the Company's Employee Share Option Scheme 2021.
Past (for the last 5 years)
PT. International Biometrics Indonesia
Present
1. Asa Ren Pte Ltd
2. PT. Bukit Jimbaran Lestari
3. PT. Interaktif Seluler Indonesia
4. Nature's Vault (Singapore) Pte Ltd
5. Nature's Vault Pte. Ltd.
6. PT. Legasi Alam Indonesia
7. PT. Qualysoft Center of Excellence
8. Travel Square
9. PT. Terra Lentera Asia
10. PT. WAN Solutions
11. PT. Widtech Indonesia
12. Sawa Ecosolutions Pte. Ltd.
13. Ajari Technologies Pte. Ltd.
14. PT. Adhya Java Royal
15. PT. Manusia Titisan Dewa
16. PT. Cantika Abadi
17. PT. Semesta Tekno Indoraya
18. PT. Teknologi GoVirtual Indonesia
19. PT. Royal Pilar Capital
20. PT. Pathgen Diagnostik Teknologi
21. PT. Barata Sentosa Kencana