Change - Announcement of Cessation::Resignation of Managing Director, Malaysia

Issuer & Securities

Issuer/ Manager
GRAND VENTURE TECHNOLOGY LIMITED
Securities
GRAND VENTURE TECHNOLOGY LTD - SGXE82751350 - JLB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Nov-2022 18:18:09
Status
New
Announcement Sub Title
Resignation of Managing Director, Malaysia
Announcement Reference
SG221108OTHRTS6T
Submitted By (Co./ Ind. Name)
Lee Tiam Nam
Designation
Executive Deputy Chairman
Description (Please provide a detailed description of the event in the box below)
Resignation of Managing Director, Malaysia

Additional Details

Name Of Person
Kong Sang Wah
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2022
Detailed Reason (s) for cessation
Mr Kong Sang Wah ("Mr Kong") has tendered his resignation to devote more time to his family.

Following Mr Kong's resignation, he will cease to be the Managing Director of Grand Venture Technology Sdn. Bhd. and Director of Grand Venture Technology (Penang) Sdn. Bhd..

Post cessation, Mr Kong will remain as a Business Consultant to the Group's operations in Penang.
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
01/02/2013
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Managing Director of Grand Venture Technology Sdn. Bhd. as well as a Director of Grand Venture Technology (Penang) Sdn. Bhd..
Role and responsibilities
Overall management and growth of the Group's subsidiaries in Malaysia.

Mr Kong will remain as a Business Consultant to the Group's operations in Penang.
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
Direct interest in 1,883,300 shares in the Company
Other Directorships
Past (for the last 5 years)
Nil
Present
Centretechnics Technology Sdn. Bhd.