Change - Announcement of Cessation::Cessation of Executive Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
JIUTIAN CHEMICAL GROUP LIMITED
Securities
JIUTIAN CHEMICAL GROUP LIMITED - SG1V71937527 - C8R
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Nov-2018 17:28:32
Status
New
Announcement Sub Title
Cessation of Executive Director and Chief Executive Officer
Announcement Reference
SG181122OTHRFYP9
Submitted By (Co./ Ind. Name)
Wang Yiming
Designation
Non-Executive and Non-Independent Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Zhou Hongxuan
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
22/11/2018
Detailed Reason (s) for cessation
Due to personal health reasons.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Zhou Hongxuan as the Executive Director and Chief Executive Officer 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
Mr Wei Hongguang, Group General Manager of Subsidiaries, has been appointed as the acting CEO whilst a selection process for a new CEO is being undertaken.
Date of Appointment to current position
13/02/2017
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Mr Zhou is responsible for overseeing the operations of the Company and its subsidiaries.
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)
Anyang Jiutian Fine Chemical Co., Ltd
Anyang Jiulong Chemical Co., Ltd
Anyang Jiujiu Chemical Technology Co., Ltd
Present
None