Change - Announcement of Cessation::Resignation of Mr Philip Wong Yee Teng as Executive Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
PINE CAPITAL GROUP LIMITED
Securities
PINE CAPITAL GROUP LIMITED - SG1AA8000008 - ADJ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-May-2018 18:27:11
Status
New
Announcement Sub Title
Resignation of Mr Philip Wong Yee Teng as Executive Director and Chief Executive Officer
Announcement Reference
SG180514OTHRKQM9
Submitted By (Co./ Ind. Name)
Yap Lian Seng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Philip Wong Yee Teng ("Mr Wong") as Executive Director and Chief Executive Officer of Pine Capital Group Limited (the "Company").

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Asian Corporate Advisors Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement, including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Liau H.K.
Telephone number: 6221 0271

Additional Details

Name Of Person
Philip Wong Yee Teng
Age
39
Is effective date of cessation known?
Yes
If yes, please provide the date
31/05/2018
Detailed Reason (s) for cessation
Mr Wong has resigned to pursue his own personal interests.

The Company and Mr Wong have mutually agreed that the last day of Mr Wong's service shall be 31 May 2018, notwithstanding any notice period requirement in the service agreement entered into between the Company and Mr Wong.

The Board would like to express their appreciation to Mr Wong for his service and contribution to the Company during his term as Executive Director and Chief Executive Officer of the Company.

Based on its enquiries, the Company's Sponsor, Asian Corporate Advisors Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for Mr Wong's resignation as Executive Director and 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
22/09/2017
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
9
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Executive Director and Chief Executive Officer
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) Limit One Pte. Ltd.
2) BSDSL Pte. Ltd.
3) Renewable Energy Solutions Pte. Ltd.
4) Pine Partners Pte. Ltd.
5) Shanghai Tongjia Asset Management (China)
6) VIC International Pte. Ltd.
Present
1) SINCO Pharmaceuticals Holdings Limited
2) Advance Capital Partners Asset Management Private Limited
3) Advance Capital Partners Asset Management (HK) Pte. Limited
4) BSDCN Pte. Ltd.
5) Pine Asia Asset Management Inc.
6) AP House Pte. Ltd.
7) Antique Himalayan Pte. Ltd.