Change - Announcement of Cessation::Cessation of Executive Director (Finance)
Issuer & Securities
ATLANTIC NAVIGATION HOLDINGS (SINGAPORE) LIMITED
ATLANTIC NAVIGATION HLDG(S)LTD - SG2F00983534 - 5UL
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Director (Finance)
Submitted By (Co./ Ind. Name)
Wong Siew Cheong
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Executive Director (Finance) (Mr Tong Choo Cherng).
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), SAC Capital Private Limited, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.
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 Ms Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Name Of Person
Tong Choo Cherng
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Pursuant to the completion of the Proposed Subscription, upon his cessation as Executive Director (Finance), Mr Tong Choo Cherng ("Mr Tong") be re-designated as Chief Financial Officer of the Company.
The Sponsor, after having interviewed Mr Tong, is satisfied that save as disclose in this announcement, there are no other material reasons for the cessation of Mr Tong as Executive Director (Finance).
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director (Finance)
Role and responsibilities
Mr Tong is responsible for overall financial management and administrative management of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
750,000 share options granted under Atlantic 2008 Employee Share Option Scheme.
Past (for the last 5 years)
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Atlantic Oceana Inc.
Atlantic Offshore Inc.
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ATNAV Maritime Inc.
ATNAV Nautical Inc.
ATNAV Oceanic Inc.
ATNAV Offshore Inc.