Change - Announcement of Cessation::Resignation of Interim Chief Executive Officer

Issuer & Securities

Issuer/ Manager
Ayondo Ltd.
AYONDO LTD. - SG1ED1000001 - 1I5
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Jun-2019 22:58:52
Announcement Sub Title
Resignation of Interim Chief Executive Officer
Announcement Reference
Submitted By (Co./ Ind. Name)
Thomas Winkler
Non-Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Richard Mark Street as Interim Chief Executive Officer of the Company.

ayondo Ltd. (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 26 March 2018. The initial public offering of the Company was sponsored by UOB Kay Hian Private Limited (the "Sponsor").

This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the relevant rules of the SGX-ST Listing Manual Section B: Rules of Catalist. The 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 accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Gregory Wee Toon Lee, Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
Richard Mark Street
Is effective date of cessation known?
If No, please advise when the date will be announced
The Company will release a follow up announcement when the effective date of cessation is confirmed.
Detailed Reason (s) for cessation
To pursue other career opportunities and for personal reasons.

The Company's Sponsor, UOB Kay Hian Private Limited, having interviewed Mr Richard Mark Street ("Mr Street"), is not aware of any other material reasons for the cessation of Mr Street as the Interim Chief Executive Officer of the Company.

The Company has identified suitable candidate(s) as its key executive officer(s). The effective date of Mr Street's cessation will be confirmed after the proposed candidate(s) have been appointed to the Group.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Interim Chief Executive Officer
Role and responsibilities
Mr Street is managing and overseeing the overall business and activities of the Group on an interim basis.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
Mr Street holds 621,000 ordinary shares in the Company.
Past (for the last 5 years)
1. Red Elephant Limited
2. Havenport Fixed Maturiy Fund
1. ayondo GmbH
2. ayondo Holdings AG

*Mr Street will step down as director of the abovementioned two companies following his resignation as interim CEO of the Company.