Change - Announcement of Cessation::Cessation as Independent Director - Hong Pian Tee

Issuer & Securities

Issuer/ Manager
ASIAPHOS LIMITED
Securities
ASIAPHOS LIMITED - SG2G24997246 - 5WV
ASIAPHOS LIMITED W200323 - SG5DS5000008 - 1C9W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-May-2019 18:15:22
Status
New
Announcement Sub Title
Cessation as Independent Director - Hong Pian Tee
Announcement Reference
SG190503OTHR6YLL
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
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 ("Sponsor"), Asian Corporate Advisors Pte. Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made. The Sponsor is satisfied, based on the enquiries made, that there are no reasons for the cessation other than those stated in this announcement.

This announcement has not been examined or approved by the Exchange and the Exchange 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. Liau H.K..
Telephone number: 6221 0271

Additional Details

Name Of Person
Hong Pian Tee
Age
74
Is effective date of cessation known?
Yes
If yes, please provide the date
03/05/2019
Detailed Reason (s) for cessation
In view that the Group has substantially reduced its operations, Mr Hong Pian Tee has decided to resign to enable the Company to save on directors' fees which will benefit stakeholders in the long run. The board is confident that the reduced board size will be adequate to meet the current needs of the Group.
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
22/08/2013
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Chairman and Member of Audit and Remuneration Committees.
Role and responsibilities
Assumed the roles as an Independent Non-Executive Chairman and Member of Audit and Remuneration Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest
(i) 2,099,850 ordinary shares
(ii) 75,750 warrants

Deemed Interest
(i) 562,500 ordinary shares
(ii) 62,500 warrants
Past (for the last 5 years)
1) Golden Agri-Resources Ltd
2) Memstar Technology Ltd
Present
1) Pei Hwa Foundation Limited
2) Sinarmas Land Limited
3) Yanlord Land Group Limited
4) XMH Holdings Ltd