Change - Announcement of Cessation::Retirement of Mr. Ng Chee Keong as Independent Director

Issuer & Securities

Issuer/ Manager
MENCAST HOLDINGS LTD.
Securities
MENCAST HOLDINGS LTD. - SG1X07940643 - 5NF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2024 17:49:22
Status
New
Announcement Sub Title
Retirement of Mr. Ng Chee Keong as Independent Director
Announcement Reference
SG240429OTHRCIF8
Submitted By (Co./ Ind. Name)
Sim Soon Ngee Glenndle
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Ng Chee Keong as Independent Director.

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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. Charmian Lim (Telephone no.: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Ng Chee Keong
Age
75
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr. Ng Chee Keong ("Mr. Ng") retired from office at the Annual General Meeting of the Company held on Monday, 29 April 2024.

He has relinquished his position as Independent Director, Chairman of the Remuneration Committee as well as a member of the Audit Committee and Nominating Committee.

After having interviewed Mr. Ng, and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no material reasons for the retirement of Mr. Ng as Independent 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?
No
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
The Company is in the midst of identifying a third independent director candidate and will endeavour to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules and the Code of Corporate Governance 2018.
Date of Appointment to current position
09/10/2009
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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.)
- Independent Director
- Chairman of the Remuneration Committee
- Member of the Audit Committee
- Member of the Nominating Committee
Role and responsibilities
Independent Director, Chairman of the Remuneration Committee as well as a member of the Audit Committee and Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest: 2,113,500
Deemed Interest: Nil
Past (for the last 5 years)
- Jurong Port Pte Ltd
- Jurong Port Jakarta Holding Pte Ltd
- Jurong Port Marunda Holding Pte Ltd
- Rizhao Jurong Port Terminals Co Ltd.
- Jurong Port Rizhao Holding Pte. Ltd.
- Jurong Port Hainan Holding Pte. Ltd.
- JTC Corporation
Present
- Samudera Shipping Line Ltd