Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Nov-2023 23:06:22
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG231130OTHR897A
Submitted By (Co./ Ind. Name)
Pang Kee Chai, Jeffrey
Designation
Group Chief Executive Officer
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 Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "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 Alicia Chang, Registered Professional, W Capital Markets Pte. Ltd., 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3525.

Additional Details

Name Of Person
Pek Choon Lee
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
30/11/2023
Detailed Reason (s) for cessation
Mr Pek Choon Lee ("Mr Pek") has decided to resign as an Independent Director of the Company with effect from 30 November 2023 due to the health reasons and the Board has agreed to accept his resignation.

The Board has also been informed by Mr Pek that he has been notified by the Principal Special Investigator of Corrupt Practices Investigation Bureau on 28 November 2023 that he has been charged for three offences under Section 22(1)(ii) of the Employment of Foreign Manpower Act (Cap 91A). For more information, please refer to the Company s separate announcement released on the SGXNET on 30 November 2023.

The Sponsor, having spoken to Mr Pek, is satisfied that, other that as disclosed in this announcement, there are no other material reasons for the resignation of Mr Pek.
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
17/10/2023
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.)
Non-executive Independent Director, Chairman of the AC, NC, RC and Shen Yao Performance Award Committee
Role and responsibilities
To perform the functions of Non-Executive Independent Director, and to fulfil the duties and responsibilities of the Chairman of the Audit Committee, Nominating Committee, Remuneration Committee and Shen Yao Performance Award 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?
No
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