Change - Announcement of Cessation::Resignation of Non-Executive and Independent Director

Issuer & Securities

Issuer/ Manager
SP CORPORATION LIMITED
Securities
SP CORPORATION LIMITED - SG1AJ0000007 - AWE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Apr-2022 18:03:59
Status
New
Announcement Sub Title
Resignation of Non-Executive and Independent Director
Announcement Reference
SG220406OTHRO7DD
Submitted By (Co./ Ind. Name)
Lee Pih Peng
Designation
Group Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Tan Lye Huat as a Non-Executive and Independent Director of the Company. Following Mr Tan's resignation, he ceases to be the Chairman of the Audit and Risk Committee and member of the Nominating Committee and Remuneration Committee of the Company.

Additional Details

Name Of Person
Tan Lye Huat
Age
73
Is effective date of cessation known?
Yes
If yes, please provide the date
08/04/2022
Detailed Reason (s) for cessation
Mr Tan gave notice of his resignation due to his differences of opinion relating to certain matters amongst the Board of Directors.
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
Please refer to page 51 of the Annual Report where it has been stated, inter alia, that the ARC has not reached a decision on the Possible Interest Waivers matter, the Board also did not reach a decision on the Possible Interest Waiver, and the ARC had made certain recommendations to the Board relating to the Possible Interest Waivers.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/01/1999
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Independent Director
Audit and Risk Committee (Chairman)
Nominating Committee (Member)
Remuneration Committee (Member)
Role and responsibilities
Responsibilities as Independent Director, Chairman of the Audit and Risk Committee and Member of the 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)
Neo Group Limited (delisted from SGX-ST on 9 June 2021)
Dynamic Colours Limited (delisted from SGX-ST on 18 August 2020)
Nera Telecommunications Ltd
Present
Japan Foods Holdings Ltd