Change - Announcement of Cessation::Resignation of Independent Director of the Company

Issuer & Securities

Issuer/ Manager
KS ENERGY LIMITED
Securities
KS ENERGY LIMITED - SG1G91873040 - 578
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Oct-2020 18:41:25
Status
New
Announcement Sub Title
Resignation of Independent Director of the Company
Announcement Reference
SG201014OTHRAH1X
Submitted By (Co./ Ind. Name)
Andrew Grimmett and Lim Loo Khoon
Designation
Judicial Managers
Description (Please provide a detailed description of the event in the box below)
Please refer to the information below.

Additional Details

Name Of Person
Soh Gim Teik
Age
66
Is effective date of cessation known?
Yes
If yes, please provide the date
13/10/2020
Detailed Reason (s) for cessation
Judicial managers were appointed over KS Energy Limited (the Company ) by the High Court on 13 October 2020.

Pursuant to Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018) of Singapore (the Act ), during the period in which a company is in judicial management, all powers conferred and duties imposed on the directors of the company by this Act or the Companies Act (Cap. 50 of Singapore), or by the constitution of the company, must be exercised and performed by the judicial manager and not by the directors.

In view thereof, Mr. Soh Gim Teik resigned as Independent Director of the Company following the judicial management order.
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
01/05/2015
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Member of RC, Chairman of AC
Role and responsibilities
As above.
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)
None.
Present
1. Digiassets Exchange (Singapore) Pte Ltd
2. Wilmar International Limited
3. Consortium For Clinical Research And Innovation Singapore Pte Ltd
4. Farrer Park Hospital Pte Ltd
5. The Farrer Park Company Pte Ltd
6. Science Centre Board
7. Singapore Institute of Directors
8. EDBI Pte Ltd
9. BBR Holdings (S) Ltd
10. Shanling Investments Pte Ltd