Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
MMP RESOURCES LIMITED
Securities
MMP RESOURCES LIMITED - SG1W93940508 - F3V
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Sep-2016 18:20:31
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG160902OTHR7STI
Submitted By (Co./ Ind. Name)
Paul Andrew Crosio
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Rajesh Dilip Wadhwani as Independent Director of the Company.

Pursuant to Section 201B of the Companies Act (Cap. 50) of Singapore and Rule 704(8) of the Listing Manual of Singapore Exchange Securities Trading Limited, the Audit Committee of the Company should comprise at least three (3) Directors.

Following the resignation of Mr Rajesh Dilip Wadhwani as Director of the Company, the number of the Audit Committee of the Company will fall below the minimum number of three (3). As such, the Company will endeavour to fill vacancy in the Audit Committee within two (2) months, but in any case not later than three (3) months.

Additional Details

Name Of Person
Rajesh Dilip Wadhwani
Age
45
Is effective date of cessation known?
Yes
If yes, please provide the date
02/09/2016
Detailed Reason (s) for cessation
Due to other work commitments.
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
19/12/2013
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee and Member of Audit Committee and Nominating Committee of the Company
Role and responsibilities
Responsibilities as Independent Director
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?
No
Past (for the last 5 years)
1. Conquest Consultancy Pte. Ltd.
2. Techware Consultants Pte. Ltd.
Present
1. Paradime Solutions Pte. Ltd.
2. Emsus Singapore Pte. Ltd.