Change - Announcement of Cessation::Cessation as Non-Independent Non-Executive Director who is an Audit Committee Member

Issuer & Securities

Issuer/ Manager
S I2I LIMITED
Securities
S I2I LIMITED - SG1H33875235 - M09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Mar-2015 22:26:02
Status
New
Announcement Sub Title
Cessation as Non-Independent Non-Executive Director who is an Audit Committee Member
Announcement Reference
SG150327OTHRN0M8
Submitted By (Co./ Ind. Name)
Maneesh Tripathi
Designation
Executive Director and Group CEO
Description (Please provide a detailed description of the event in the box below)
Cessation as Non-Independent Non-Executive Director who is an Audit Committee Member.

Additional Details

Name Of Person
Preeti Malhotra
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
27/03/2015
Detailed Reason (s) for cessation
Resignation due to proposed recent amendments in Indian Tax Laws, replacing the concepts of "control and management" with "place of effective management" wherein it is now proposed that foreign companies will be regarded as a tax resident of India, if its effective management, at any time during the year, is in India. Therefore, for abundant precaution the Indian Resident Directors of the Company are resigning effective 27th March 2015
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
14/05/2011
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Non-Executive Director and member of Nominating, Remuneration and Audit Committees.
Role and responsibilities
Non-Independent Non-Executive Director of the Board of Directors of the Company.
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?
No
Past (for the last 5 years)
1. Goldman Securities Private Limited
2. Harjas Logic System Private Limited
3. PT Selular Global Net
4. S Mobile Devices Limited
5. Spice International Sdn Bhd
6. Spice Mobile VAS Pte Limited
7. Spice Solar Technology Private Limited
8. Spice Stock Broking Private Limited
9. Spice Insurance Services Private Limited
10. Spice Commodities Private Limited
11. Spice Bulls Investments Limited
12. Bharat IT Services Limited
13. S Global Insurance Advisory Limited
Present
1. Plus Paper Foodpac Limited
2. S GIC Pte Limited
3. Spice Innovative Technologies Pvt. Ltd
4. Spice Mobility Ltd.(earlier known asS Mobility Ltd)
5. S Mobility Pte Limited
6. Saket City Hospitals Pvt. Ltd
7. Smart Co. Holding Pte Limited
8. Smart Entertainment Limited
9. Smartvalue Ventures Pvt. Ltd
10. Smart Ventures Pvt Limited
11. Smartglobal Financial Ventures Private Limited
12. Smartglobal Ventures Private Limited
13. Spice CSL Pte Limited
14. Spice Digital Limited
15. Spice Retail Limited
16. THC International Co. Ltd
17. Wall Street Finance Ltd
18. Affinity Capital Pte Limited
19. Newtel Corporation Co. Limited