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

Issuer & Securities

Issuer/ Manager
NET PACIFIC FINANCIAL HOLDINGS LIMITED
Securities
NET PACIFIC FIN HLDGS LTD - SG2B83959223 - 5QY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Nov-2023 20:35:27
Status
New
Announcement Sub Title
Announcement of Cessation of Independent Non-Executive Director
Announcement Reference
SG231101OTHRZ74L
Submitted By (Co./ Ind. Name)
Ong Chor Wei @ Alan Ong
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
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 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. Foo Jien Jieng, 16 Collyer Quay #10-00 Collyer Quay Centre Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Wu Houguo
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
08/11/2023
Detailed Reason (s) for cessation
Mr Wu Houguo ("Mr Wu") joined the Board in 2013. He has decided to step down to allow board renewal.

After having interviewed Mr Wu and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no material reasons for the retirement of Mr Wu as an 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
26/02/2013
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, and Member of the Audit Committee, Risk Management Committee, Nominating Committee and Remuneration Committee
Role and responsibilities
Duties as an Independent Non-Executive Director, and Member of the Audit Committee, Risk Management Committee, Nominating Committee and Remuneration 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
Past (for the last 5 years)
Nil
Present
Xin Tai Investments Holding Co., Ltd