REPL::Change - Announcement of Cessation::Cessation as Chief Executive Officer and Executive Chairman

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-Apr-2019 17:05:23
Announcement Sub Title
Cessation as Chief Executive Officer and Executive Chairman
Announcement Reference
Submitted By (Co./ Ind. Name)
Mohd Sopiyan B. Mohd Rashdi
Lead Independent Director
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of the Company wishes to announce that Dato' Michael Loh Soon Gnee has decided to resign as Chief Executive Officer and/or Executive Chairman due to personal reasons and will be transitioning his duties within the next 12 months.

Additional Details

Name Of Person
Dato' Michael Loh Soon Gnee
Is effective date of cessation known?
If No, please advise when the date will be announced
Dato' Michael Loh will resign by 7 April 2020 (or such other earlier date as the Board may determine)
Detailed Reason (s) for cessation
Dato' Michael Loh Soon Gnee has indicated that he is resigning from his position as the Chief Executive Officer and Executive Chairman of the Company by 7 April 2020 (or such other earlier date as the Board may determine) in order to reduce his work load and travel commitments due to his age and family commitments. Dato' Michael shall remains as Chief Executive Officer and Executive Chairman of the Company until his resignation takes effect and will be working closely with the Board to achieve a smooth transition.

The new CEO will be announced in due course when the appointment is made.
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 Chairman & CEO
Role and responsibilities
Dato' Michael Loh Soon Gnee's role and responsibilities include:

- Providing input on broad strategic directions for the Company;
- Managing the daily running of the business;
- Leading the Board to ensure its effectiveness on all aspects of its role;
- Ensuring an accurate, timely and clear flow of information to the Directors, promoting a culture of openness and debate at the Board;
- Ensuring effective communication with shareholders, encouraging constructive relations between the Board and Management; and
- Facilitating the effective contribution of the Independent Directors and promoting high standards of corporate governance
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?
Shareholding Details
Deemed a shareholder by virtue of substantial shareholding in holding company, ASTI Holdings Limited.
Past (for the last 5 years)
Semiconductor Technologies & Instruments Pte Ltd
Axesstel Inc.
Flexcomm Capital Pte. Ltd.
Eocell Ltd
Eocell, Inc.
Telford Industries Pte Ltd
Eoplex Limited
Eoplex Inc.
Peratech Limited
Dragon Venture Limited
Technollis Sdn Bhd
Flexcomm Limited
FlexPro (H.K.) Limited
Nanjing DTB Development Co., Ltd
Jiangsu Longjiang Ship Building Co., Ltd.
DTB Limited
Prosem Technology Sdn. Bhd.
Dragon Communication & Tech Sdn. Bhd.
FlexComm Corporation
Procross Technology Sdn. Bhd.
ASTI Holdings Limited
Dragon Group International Limited
Dragon Hill Technology Limited
O2IC Inc.
O2IC Co., Ltd., Korea
Dragon Technology Asia Pacific Group Corp.
Dragon Asia Pacific Group Corporation
Dragon Electronics Sdn. Bhd.
Sumiro Ltd
Dragon Technology Distribution Pte Ltd

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