Change - Announcement of Cessation::ANNOUNCEMENT OF CESSATION

Issuer & Securities

Issuer/ Manager
METECH INTERNATIONAL LIMITED
Securities
METECH INTERNATIONAL LTD - SGXE91187273 - V3M
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Jun-2024 22:44:57
Status
New
Announcement Sub Title
ANNOUNCEMENT OF CESSATION
Announcement Reference
SG240613OTHRD9MR
Submitted By (Co./ Ind. Name)
Er Kwong Wah
Designation
Independent Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

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 Sponsor is Mr. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Wang Zhuo
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
28/06/2024
Detailed Reason (s) for cessation
Mr. Wang Zhuo ("Mr. Wang") will be retiring by rotation pursuant to Regulation 88 of the Company's Constitution at the upcoming Annual General Meeting of the Company and has decided not to seek for re-election as a Director of the Company. Mr. Wang will also resign from his position as the Chief Executive Officer to pursue other career opportunities. Accordingly, Mr. Wang will cease to be an Executive Director and the Chief Executive Officer of the Company. The Company will be seeking a suitable candidate for the position of Chief Executive Officer and will make the necessary announcement(s) to update shareholders in due course.

After having interviewed Mr. Wang and to the best of its knowledge, the Company's Sponsor is satisfied that saved as disclosed in the announcement, there are no other material reasons for the retirement of Mr. Wang as the Executive Director of the Company and for his resignation as Chief Executive Officer 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
28/03/2023
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
7
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Mr. Wang Zhuo is responsible for managing and overseeing the overall business strategy and development of the Group.
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?
No
Past (for the last 5 years)
Nil
Present
1. Beijing Meiwenti Network Co., Ltd.
2. Beijing Zhuoyue Wanwu Technology Co., Ltd.
3. Beijing Yushi Technology Co., Ltd.
4. Metech International Limited
5. Metech Dynamics Pte. Ltd.
6. Asian Green Tech Pte. Ltd.
7. Asian Eco Technology Pte. Ltd.
8. Metech Diamond Solutions Pte. Ltd.
9. Metech Diamond Pte. Ltd.
10. Zhongxin Minghua (Shanghai) International Trade Co., Ltd.