Change - Announcement of Cessation::RESIGNATION OF LEAD INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SHC CAPITAL ASIA LIMITED
Securities
SHC CAPITAL ASIA LIMITED - SG2E89982663 - 5UE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Aug-2014 19:02:09
Status
New
Announcement Sub Title
RESIGNATION OF LEAD INDEPENDENT DIRECTOR
Announcement Reference
SG140801OTHRLV5Q
Submitted By (Co./ Ind. Name)
Chan Lai Yin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
There are 6 cessations (taking into account this cessation) and 4 new appointments taking place contemporaneously.

This announcement has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 Tan Cher Ting, Director, Corporate Finance, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.

Additional Details

Name Of Person
TAN HUP FOI @ TAN HUP HOI
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
01/08/2014
Detailed Reason (s) for cessation
In connection with the proposed disposal ("Proposed Disposal") of the entire issued and paid-up share capital of SHC Insurance Pte. Ltd. by the Company, Mr Tan Hup Foi @ Tan Hup Hoi had indicated his intention to resign from the Board of the Company.

Following Mr Tan's resignation as an Independent Director of the Company, he will relinquish his positions as Chairman of the Audit Committee and Nominating Committee and a member of the Remuneration Committee.

For the purpose of Rule 704(6)(b) of the Catalist Rules, Mr Tan Hup Foi @ Tan Hup Hoi has confirmed that he is not aware of any irregularities in the Company which would have a material impact on the Company, including financial reporting. The Sponsor is satisfied that there are no other reasons for Mr Tan Hup Foi @ Tan Hup Hoi's resignation.
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
15/03/2012
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director.
Role and responsibilities
Non-Executive.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
500,000 ordinary shares and 1,500,000 options to subscribe for 1,500,000 new ordinary shares in the Company.
Past (for the last 5 years)
Please refer to Annexure A.
Present
Please refer to Annexure A.

Attachments