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

Issuer & Securities

Issuer/ Manager
KITCHEN CULTURE HOLDINGS LTD.
Securities
KITCHEN CULTURE HOLDINGS LTD. - SG2D45972171 - 5TI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Jul-2021 12:17:14
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer
Announcement Reference
SG210714OTHRZN3N
Submitted By (Co./ Ind. Name)
Hao Dongting
Designation
Non-Executive Chairperson
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer.

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. Lee Khai Yinn (Tel (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Lim Wee Li
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
07/07/2021
Detailed Reason (s) for cessation
The Company has given notice of termination to Mr Lim Wee Li ("Mr Lim"), who will cease to act as the Chief Executive Officer of the Company with effect from 7 July 2021. The notice of termination was given in accordance with the terms of Mr Lim's service contract. Following this termination of employment, the Company will procure Mr Lim Wee Li's resignation as a Director of the Company and all its subsidiaries in accordance with the terms of his employment contract.

Further details in relation to the cessation of Mr Lim as Chief Executive Officer of the Company are set out in the Company's announcements dated 8 and 12 July 2021.

Mr Lim has written separately to SAC Capital Private Limited on his comments in relation to his cessation. Please refer to the statements provided by Mr Lim which are reproduced in the Appendix to this announcement.
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?
Yes
If Yes, Please provide full details
Please refer to the Company's announcements dated 23 June 2021 (Response to Query Regarding Trading Activity), 8 July 2021 (Cessation of Chief Executive Officer) and 12 July 2021 (Response to SGX Queries).

Please also refer to the Appendix to this announcement.
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 the Company's announcements dated 23 June 2021 (Response to Query Regarding Trading Activity), 8 July 2021 (Cessation of Chief Executive Officer) and 12 July 2021 (Response to SGX Queries). The Board will make the necessary further announcements to update shareholders as and when there are material developments in relation to the matters disclosed in those announcements.

Please also refer to the Appendix to this announcement.
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Appendix to this announcement.
Date of Appointment to current position
27/06/2011
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
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Executive. Responsible for formulating the Group's strategic directions and expansion plans, as well as overseeing the sales, marketing and business development of the Group.
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 Lim is a controlling shareholder of the Company holding 66,148,657 ordinary shares in the Company.
Past (for the last 5 years)
Wenul Assets (Industrial) Pte. Ltd.
Present
Within the Group:
KHL Marketing Asia-Pacific Pte Ltd
KHL (Hong Kong) Limited
Kitchen Culture (China) Limited
Kitchen Culture (Hong Kong) Limited
Kitchen Culture (Macau) Limited
Kitchen Culture Sdn. Bhd.
Kitchen Culture (Sichuan) Co., Ltd.
Kitchen Culture Pte. Ltd.
KC Medical Supplies Pte. Ltd.
KCRoom Pte. Ltd.
KCube Pte. Ltd.
Haus Furnishings and Interiors Pte. Ltd.
Beef Up Global Pte. Ltd.
3L Asia Capital Pte. Ltd.
KC Technologies Pte. Ltd.

Outside the Group - Non-executive:
LWL Investments Pte. Ltd.
3E Leisure Pte. Ltd.
1L Pte. Ltd.
Kinji Japanese Dining Pte. Ltd.
Kyoaji Dining Pte. Ltd.
Wanton Global Pte. Ltd.
Wanton Seng's (Somerset) Pte. Ltd.
Wanton Seng's Express Pte. Ltd.

Attachments

210714 Appendix_final.pdf
Total size =92K