Change - Announcement of Cessation::Cessation of Chairman and Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
CAPALLIANZ HOLDINGS LIMITED
Securities
CAPALLIANZ HOLDINGS LIMITED - SG1H44875935 - 594
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Feb-2025 00:01:01
Status
New
Announcement Sub Title
Cessation of Chairman and Independent Non-Executive Director
Announcement Reference
SG250221OTHRENYE
Submitted By (Co./ Ind. Name)
Liu Qiang
Designation
Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Chairman and Non-Executive Independent Director - Yu Jinfeng ("Mr Yu")

This announcement has reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"). This announcement 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 Ms. Goh Mei Xian, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Yu Jinfeng
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
20/02/2025
Detailed Reason (s) for cessation
The board of directors (the "Board" or the "Directors") of CapAllianz Holdings Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Company's announcements dated 26 November 2024 and 20 February 2025 in relation to the court orders concerning irregularities of the Company's Annual General Meeting held on 30 October 2024 ("2024 AGM"). On 14 February 2025, following the hearing of the Originating Application before Justice Valerie Thean, it was declared that Ordinary Resolution 2 (re-election of Mr Yu Jinfeng as a Director of the Company) of the 2024 AGM was invalid. Accordingly, Mr Yu is taken to not have been re-elected as a Director of the Company.

After having interviewed Mr Yu and to the best of its knowledge, the Company's sponsor, ZICO Capital Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Yu as Chairman and Independent Non-Executive 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?
Yes
If Yes, Please provide full details
Please refer to the announcements dated 26 November 2024 and 20 February 2025 for more information on the court orders concerning the irregularities of the 2024 AGM.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/05/2022
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman and Independent Non-Executive Director of the Company, Chairman and member of the RC, AC member and NC member.
Role and responsibilities
Mr Yu is responsible for leading the Board, and exercising oversight over the Group's operating and business decisions.
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
Past (for the last 5 years)
Directorship:
1. Yu Select Pte. Ltd.
Present
Directorship:
1. Softnano Pte. Ltd.