Change - Announcement of Cessation::Cessation of Independent Director at Annual General Meeting

Issuer & Securities

Issuer/ Manager
IPC CORPORATION LTD
Securities
IPC CORPORATION LIMITED - SG1BB8000004 - AZA
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Apr-2024 17:40:29
Status
New
Announcement Sub Title
Cessation of Independent Director at Annual General Meeting
Announcement Reference
SG240411OTHR8SWX
Submitted By (Co./ Ind. Name)
Lauw Hui Kian
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr. Lee Joo Hai as an Independent Director at Annual General Meeting.

Additional Details

Name Of Person
Lee Joo Hai
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr. Lee Joo Hai ("Mr. Lee") has served as Independent Director of the Company beyond nine years from the date of his first appointment. In compliance with the amended Listing Rule 210(5)(d)(iv), which imposed a hard tenure limit for independent directors of nine years, beyond which such directors will no longer be considered independent. Mr. Lee will be stepping down as Independent Director of the Company after the conclusion of the Annual General Meeting.

Mr. Lee retired as an Independent Director of the Company on 26 April 2017. He re-joined the Company as an Independent Director on 1 October 2018.

Following Mr. Lee's cessation as an Independent Director of the Company, he will relinquish his position as Chairman of the Audit Committee and as a member of the Remuneration Committee and Nominating Committee.
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
01/10/2018
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.)
Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee.
Role and responsibilities
Duties as an Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and Nominating Committee on which he has served.
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)
PGG Wrightson Limited
Agria Corporation
Agria (Singapore) Pte. Ltd.
Agria Asia Investment Limited
Present
Hyflux Ltd (In Liquidation)
Lung Kee (Bermuda) Holdings Limited