Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
HOE LEONG CORPORATION LTD.
Securities
HOE LEONG CORPORATION LTD. - SG1S47927920 - H20
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Oct-2014 17:20:10
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG141030OTHRSE9J
Submitted By (Co./ Ind. Name)
Kuah Geok Lin
Designation
Chairman & CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director

Additional Details

Name Of Person
Lim Kok Hoong
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
30/10/2014
Detailed Reason (s) for cessation
As disclosed in the Corporate Governance Report in the Company's Annual Report 2013, the three (3) Independent Directors will take turns to retire when they reached their nine (9) years of service on the Board in September 2014, taking into consideration the need for progressive refreshing of the Board (in compliance with Guideline 2.4 of the Revised Code of Corporate Governance 2012). Mr Jeremy Hoon Ching Sing has been appointed as an Independent Director on 01 October 2014. Mr Hoon will replace Mr Lim Kok Hoong as the Lead Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee.
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
29/09/2005
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Audit Commitee and Member of the Remuneration Committee
Role and responsibilities
Act as Lead Independent Director, Chairman of the Audit Commitee and Member of the Remuneration 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. Genting Integrated Resorts Operations Management Pte Ltd
2. Singapore Tourism Board
3. AA-FAS Pte Ltd
4. Transcu Group Ltd
5. Radica Reviva Associates (S) Pte Ltd
Present
1. Amtek Engineering Ltd
2. Genting Singapore PLC
3. Global Logistic Properties Limited
4. Parkway Trust Management Limited
5. Sabana Real Estate Investment Management Pte Ltd
6. B2C Network Pte Ltd
7. Grande Rue Investment Holdings Pte Ltd
8. YSL Starville Investment Holdings Pte Ltd
9. Thala SA
10. Lami Ltd
11. Olura Services Sarl
12. Timberlay SA
13. Visionary Investment Holdings Pte Ltd