Change - Announcement of Cessation::Cessation of Financial Controller

Issuer & Securities

Issuer/ Manager
RICH CAPITAL HOLDINGS LIMITED
Securities
RICH CAPITAL HOLDINGS LIMITED - SG2G63000001 - 5G4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Jul-2020 19:02:41
Status
New
Announcement Sub Title
Cessation of Financial Controller
Announcement Reference
SG200720OTHRA4BJ
Submitted By (Co./ Ind. Name)
James Kho Chung Wah
Designation
Independent Non-Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the ''Sponsor'') in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the ''SGX-ST'') Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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 Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Leow Quek Kien
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2020
Detailed Reason (s) for cessation
To pursue other job opportunities.

Please refer to attachment for more information in respect of the Sponsor's opinion on the Cessation.
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?
Yes
If Yes, Please provide full details
Mr Leow tendered his resignation before the Announcement (as defined in the attachment) was released on SGXNet.

In view that Mr Leow has tendered his resignation, the Board has assigned other staff within the Company to carry out the instruction stated in the Announcement.The Board would like to clarify that given the importance of the Refund Issue(as defined in the Announcement), it has assigned the Financial Controller to handle this matter on an urgent basis, as part of his job scope to undertake ad hoc projects assigned by the Company. The Board had an exit interview with Mr Leow on 17 July 2020 and during this interview, Mr Leow confirmed that he was leaving the Company solely to pursue better job opportunities.
Date of Appointment to current position
02/01/2020
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Financial Controller
Role and responsibilities
Executive. Mr Leow is appointed to be responsible for the accounting and finance functions of the Group and corporate regulatory compliance matters with regulatory bodies.
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)
Nil
Present
Nil

Attachments

Details Reason_v2.pdf
Total size =249K