Change - Announcement of Cessation::Cessation of Chairman and Chief Executive Officer who is a Nominating Committee Member

Issuer & Securities

Issuer/ Manager
EDITION LTD.
Securities
EDITION LTD. - SG1S42927578 - 5HG

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Jul-2014 21:38:11
Status
New
Announcement Sub Title
Cessation of Chairman and Chief Executive Officer who is a Nominating Committee Member
Announcement Reference
SG140721OTHRL51J
Submitted By (Co./ Ind. Name)
Lee Jei Hoon
Designation
Executive Director/Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Chairman and Chief Executive Officer who is a Nominating Committee Member.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited, for compliance with the relevant rules of the SGX-ST. The Company's Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by 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 Company's Sponsor is Ms. Alicia Kwan at 1 Robinson Road, #21-02, AIA Tower, Singapore 048542, telephone (65) 6221 5590.

Additional Details

Name Of Person
Jang Jong Jung
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
21/07/2014
Detailed Reason (s) for cessation
As per the terms of the placement and call option agreement dated 21 February 2014 between the Company and B&L Group Pte. Ltd., which agreement was approved by shareholders at the extraordinary general meeting on 16 July 2014.

The Company's Sponsor has contacted Mr Jang Jong Jung and based on its enquiries, is satisfied that other than as disclosed in this announcement, there are no material reasons for the cessation of Mr Jang Jong Jung as Chairman and Chief Executive Officer of the Company.

Mr Jang will remain as a director of the Company's wholly-owned subsidiary, Oniontech Co., Ltd.
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
31/12/2004
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman, Chief Executive Officer and a member of Nominating Committee Member
Role and responsibilities
Chairman and Executive Director
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
25,200,000 ordinary shares in Edition Ltd.
Past (for the last 5 years)
1) Menta System Co., Ltd. 2) Oniontech Co., Ltd (Korea)
Present
1) Menta System Co., Ltd. 2) Oniontech Co., Ltd (Korea)