Change - Announcement of Cessation::Redesignation of CEO to Executive Director

Issuer & Securities

Issuer/ Manager
HOSEN GROUP LTD.
Securities
HOSEN GROUP LTD - SG1Q03920366 - 5EV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Mar-2024 17:47:59
Status
New
Announcement Sub Title
Redesignation of CEO to Executive Director
Announcement Reference
SG240318OTHRPWCS
Submitted By (Co./ Ind. Name)
Lai Foon Kuen
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Redesignation of Chief Executive Officer to Executive Director

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

Additional Details

Name Of Person
Lim Hai Cheok
Age
76
Is effective date of cessation known?
Yes
If yes, please provide the date
01/05/2024
Detailed Reason (s) for cessation
Mr Lim Hai Cheok ("Mr Lim") has been serving as the Chief Executive Officer ("CEO") on the board of directors of Hosen Group Ltd. (the "Company") (the "Board") since 15 March 2004 and the Company's IPO. As part of succession planning, he has notified his intention to step down as the CEO and remains as an executive director and a member of the Nominating Committee of the Company.

After having interviewed Mr Lim and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in the announcement, there are no other material reasons for the cessation of Mr Lim as the CEO 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?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
15/03/2004
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)
3
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.)
CEO, Executive Director and a member of the Nominating Committee
Role and responsibilities
Mr Lim is in charge of formulating the strategic direction and growth of the Group including carrying out day-to-day overall management and executing the decisions made by the Board.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Spouse of Mdm Chong Poh Soon, Senior Director and Substantial Shareholder. Father of Mr Lim Hock Chye Daniel, Executive Director. Brother of Mdm Lim Kim Eng, Executive Director and Substantial Shareholder
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 65,000,000 ordinary shares of the Company and deemed interest in 64,843,750 ordinary shares of the Company held by his spouse, Mdm Chong Poh Soon.
Past (for the last 5 years)
1. Hosen Chocolate Marketing Sdn Bhd
2. Shi Chen (Shanghai) Trading Co. Ltd
Present
1. Hock Seng Food Pte Ltd
2. Hock Seng Food (M) Sdn Bhd
3. Hock Seng Worldwide Sdn Bhd
4. Hock Seng Food (Shanghai) Co., Ltd
5. Hosen Chocolate Sdn Bhd
6. Fortune Melinka Pte Ltd