Change - Announcement of Cessation::Resignation of Non-Executive Independent Director

Issuer & Securities

Issuer/ Manager
HOSEN GROUP LTD.
Securities
HOSEN GROUP LTD - SG1Q03920366 - 5EV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Oct-2023 18:52:13
Status
New
Announcement Sub Title
Resignation of Non-Executive Independent Director
Announcement Reference
SG231030OTHR15J8
Submitted By (Co./ Ind. Name)
Lai Foon Kuen
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee.

This announcement has been reviewed by the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

Additional Details

Name Of Person
Lim Heng Seng
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
31/10/2023
Detailed Reason (s) for cessation
Mr Lim Heng Seng ("Mr Lim") has been serving in the Board of Directors since 5 July 2004. He has indicated his intention to resign as the Non-Executive Independent Director, the Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee with effect from 31 October 2023 to pave the way for Board refreshment and to comply with the nine-year tenure limit for independent directors which has been announced by the Singapore Exchange Regulation on 11 January 2023.

After having interviewed Mr Lim and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Lim as the Non-Executive 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?
No
Date of Appointment to current position
05/07/2004
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee
Role and responsibilities
Actively participated in the proceedings and decision-making process of the Board and the Board Committees' meetings
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
None