Change - Announcement of Cessation::Cessation of Executive Chairman

Issuer & Securities

Issuer/ Manager
LEADER ENVIRONMENTAL TECHNOLOGIES LIMITED
Securities
LEADER ENVIRONMENTAL TECH LTD - SG2B93959478 - LS9
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Jan-2025 19:21:19
Status
New
Announcement Sub Title
Cessation of Executive Chairman
Announcement Reference
SG250102OTHR7BAJ
Submitted By (Co./ Ind. Name)
LIM KUAN MENG
Designation
LEAD INDEPENDENT DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Dr Lin Yucheng (Dr Lin) will be stepping down as Executive Chairman with effect from 1st February 2025 and will be appointed as Emeritus Chairman and Senior Advisor of the Company.

Additional Details

Name Of Person
Dr Lin Yucheng
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
01/02/2025
Detailed Reason (s) for cessation
As part of the leadership renewal process of Leader Environmental Technologies Limited (Company) and its subsidiaries (Group), Dr Lin will be appointed as Emeritus Chairman and Senior Advisor and Mr Ngoo Lin Fong (Mr Ngoo) will be promoted as Executive Chairman with effect from 1st February 2025.

The appointment of Dr Lin Yucheng (Dr Lin) and Mr Ngoo Lin Fong (Mr Ngoo) have been duly reviewed by the Nominating Committee.

The Nominating Committee, together with the Board, have assessed that Dr Lin has played a pivotal role in reshaping the Group's strategic direction since 2020, successfully transforming it from a conventional waste management company into a forward-thinking and technology-driven organisation.

As Emeritus Chairman and Senior Advisor, the Board is confident that Dr Lin will continue to provide valuable inputs, advice and feedback on the Group's business strategies, growth opportunities and technological innovations, as well as generously share his knowledge and experience on the Group's industry and its development.
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
28/12/2020
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)
4
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.)
Chairman of the Board
Role and responsibilities
Dr Lin is responsible for the strategic planning, providing guidance in the Group's executive of its transformation plans and business strategies.
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?
Yes
Shareholding Details
414,779,500 shares in Leader Environmental Technologies Limited
Other Directorships
Past (for the last 5 years)
1. Yarra Food Pte Ltd
2. Yarra Food (Shandong) Co., Ltd
3. Yarra Tuan Yuan Food Pte Ltd
4. Yarra Sanvy Pte Ltd
Present
1. United Greentech Holdings Pte. Ltd
2. NTi Memtech Pte Ltd
3. Yarra Corporation Pte Ltd
4. BLP Capital Singapore Pte Ltd
5. BLP Capital Limited