Change - Announcement of Cessation::Resignation of Lead Independent Director - Mr. Teng Wai Leung Wilson

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GROUP LIMITED - SG2F03983689 - 5UN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Sep-2022 21:01:33
Status
New
Announcement Sub Title
Resignation of Lead Independent Director - Mr. Teng Wai Leung Wilson
Announcement Reference
SG220916OTHR8KU8
Submitted By (Co./ Ind. Name)
Chu Ming Kin
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
The resignation of Mr. Teng Wai Leung Wilson ("Mr. Teng") has been noted and accepted by the Board of Directors of the Company (the "Board") and the Board has unanimously agreed that his last service date should be 30 September 2022.

Mr. Teng has confirmed that save for what has been announced, there's no further information that should be provided to Shareholders.

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (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 Mr. Bernard Lui, Telephone: +65 63893000, Email: bernard.lui@morganlewis.com.

Additional Details

Name Of Person
Teng Wai Leung Wilson
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2022
Detailed Reason (s) for cessation
Having served the Board for close to 4.5 years since April 2018, Mr. Teng will step down from the Board to devote more time to other projects and his personal commitments, as well as to facilitate board renewal and rejuvenation while the Company is evaluating potential reverse takeover plan as part of its corporate turnaround strategies. The Board would like to express its thanks and appreciation to Mr. Teng for his contributions to the Company, particularly during the difficult period in which the Company faced significant supply chain disruption in its operations due to the COVID-19 pandemic.

The Sponsor, after having interview Mr. Teng, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Teng as Lead 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
02/04/2018
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of Remuneration Committee and Member of Audit and Risk Committee and Nominating
Committee
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Datapulse Technology Limited
Present
Nil