Change - Announcement of Cessation::Resignation of Chief Operating Officer - Mark Leong Kei Wei

Issuer & Securities

Issuer/ Manager
SBI OFFSHORE LIMITED
Securities
SBI OFFSHORE LIMITED - SG1Y97950360 - 5PL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Jul-2020 18:48:39
Status
New
Announcement Sub Title
Resignation of Chief Operating Officer - Mark Leong Kei Wei
Announcement Reference
SG200707OTHRKJ04
Submitted By (Co./ Ind. Name)
Chan Lai Yin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by SBI Offshore Limited (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
Mark Leong Kei Wei
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
01/09/2020
Detailed Reason (s) for cessation
Mr Mark Leong Kei Wei ("Mr Mark Leong") has resigned as the Chief Operating Officer of the Company to pursue other personal interests and would be periodically overseas due to relocation. Mr Mark Leong is currently serving his notice period and will continue to assist in the Company's proposed acquisition of the Berlitz group of companies until his last day of employment on 31 August 2020.

The Sponsor, after interviewing Mr Mark Leong, and to the best of its knowledge, is satisfied that, save as disclosed in this announcement, there are no material reasons for the resignation of Mr Mark Leong.
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
08/11/2017
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)
2
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.)
Chief Operating Officer
Role and responsibilities
Mr Mark Leong's role is to assist the current Interim Chief Executive Officer who was the former Executive Chairman, in the overall management of the Company in particular seeking and assisting with strategic investment opportunities.
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)
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Cosmo Consortium Pte Ltd
Cosmo Real Estate Pte Ltd
Atos Wellness Ltd
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RBV Energy (Singapore) Pte Ltd
Ma Ji Xie (Tian Jin) Co, Ltd.
Fan Ma Fang Zhi (Tian Jin) Co, Ltd.
Present
Avalon Partners Pte Ltd
Top Mining Ltd
MDR Limited
Cytomed Therapeutics (Malaysia) Sdn Bhd
KLW Holdings Limited
Solar Energy Investments Pte. Ltd.
Sumberjaya Land & Mining Sdn Bhd
Ascendance Limited
LCT Holdings Limited