Change - Announcement of Cessation::Cessation of Independent Director - Alexander Shlaen

Issuer & Securities

Issuer/ Manager
SINOCLOUD GROUP LIMITED
Securities
SINOCLOUD GRP LIMITED - BMG8191N2038 - LYY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
17-May-2023 20:33:15
Status
New
Announcement Sub Title
Cessation of Independent Director - Alexander Shlaen
Announcement Reference
SG230517OTHROTSQ
Submitted By (Co./ Ind. Name)
Chan Andrew Wai Men
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by SinoCloud Group 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 Mr Alex Tan, Chief Executive Officer, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Alexander Shlaen
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
22/05/2023
Detailed Reason (s) for cessation
Mr Alexander Shlaen ("Mr Shlaen") had on 15 May 2023 tendered his resignation as Independent Director of the Company to devote more time and attention to his increased work commitments, and in view that he has served as an Independent Director of the Company for more than 8 years. Following Mr Shlaen's resignation, Mr Shlaen will also cease to be the Chairman of the Remuneration Committee and the Nominating Committee, as well as a member of Audit Committee of the Company.

After having interviewed Mr Shlaen and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Shlaen as an Independent Director 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?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/02/2015
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)
0
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.)
Independent Director, Chairman of the Remuneration Committee and the Nominating Committee, as well as a member of the Audit Committee
Role and responsibilities
Assumed the role and responsibilities as an Independent Director, Chairman of the Remuneration Committee and the Nominating Committee, as well as a member of the Audit 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?
Yes
Shareholding Details
Currently holds 432,098 shares and 216,049 nil-paid rights shares of SinoCloud Group Limited
Past (for the last 5 years)
Nil
Present
Panache Management Pte. Ltd.