Change - Announcement of Cessation::Resignation of Mr Chua Siong Kiat as Lead Independent Director

Issuer & Securities

Issuer/ Manager
JES INTERNATIONAL HOLDINGS LIMITED
Securities
JES INTERNATIONAL HOLDINGS LTD - SG1W40939082 - EG0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Apr-2023 22:04:13
Status
New
Announcement Sub Title
Resignation of Mr Chua Siong Kiat as Lead Independent Director
Announcement Reference
SG230405OTHR9C4Q
Submitted By (Co./ Ind. Name)
Tan Wei Yang
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please refer to the information below.

Additional Details

Name Of Person
Chua Siong Kiat
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
04/04/2023
Detailed Reason (s) for cessation
To devote more time to new work commitments.
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?
Yes
If Yes, Please provide full details
In view of Mr Chua Siong Kiat's resignation, each of the Audit Committee, Remuneration Committee and Nominating Committee (respectively) will fall below the minimum of three (3) directors as required under the Code of Corporate Governance 2018.

The Company is cognizant of Rule 704(8) of the Mainboard Rules of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Mainboard Rules") which states that in the event of any cessation which renders the Audit Committee unable to meet the minimum number (not less than three) the issuer should endeavour to fill the vacancy within two months, but in any case not later than three months.

The Company will be sourcing for a new Independent Director to fill the aforementioned vacancy and ensure compliance with the provisions of the Code of Corporate Governance 2018 and the Mainboard Rules, and will provide shareholders with further updates on the foregoing matter in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
11/10/2022
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Remuneration Committee and a member of the Audit Committee and Nominating Committee.
Role and responsibilities
Lead Independent Director, Chairman of the Remuneration Committee and a member of the Audit Committee and Nominating Committee.
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?
No
Past (for the last 5 years)
1. Axington Inc.
2. Kitchen Culture Holdings Limited
3. China Star Food Group Limited
4. National Arthritis Foundation
5. Omni Sharing Pte Ltd
6. Pacific Star Development Limited
7. Durabeau Industries Pte Ltd
8. LH Aluminium Industries Pte Ltd
9. Autotrax International Pte Ltd
10. Autovox Korea Co., Ltd
11. TEE Infrastructure Pte Ltd
12. Trans Equatorial Engineering Pte Ltd
13. Nutryfarm International Limited
Present
1. China Yuanbang Property Holdings Limited
2. Heatec Jietong Holdings Ltd
3. New Silkroutes Group Limited
4. Starwork Vision Pte Ltd
5. Robotic Vision Inc. Pte Ltd
6. Lighthouse Business Consulting Pte Ltd