Change - Announcement of Cessation::Relinquishment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
HIAP SENG ENGINEERING LTD
Securities
HIAP SENG ENGINEERING LTD - SG1G69871497 - 510
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2017 17:07:09
Status
New
Announcement Sub Title
Relinquishment of Chief Executive Officer
Announcement Reference
SG170331OTHR0GJL
Submitted By (Co./ Ind. Name)
Tan Hak Jin
Designation
Joint Company Secretary
Description (Please provide a detailed description of the event in the box below)
Relinquishment of Chief Executive Officer

Additional Details

Name Of Person
Frankie Tan Ah Lam
Age
72
Is effective date of cessation known?
Yes
If yes, please provide the date
01/04/2017
Detailed Reason (s) for cessation
Mr. Frankie Tan relinquishes his position as Chief Executive Officer to facilitate the Company s succession plan. However, he remains as Executive Chairman 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
25/09/2007
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.)
Chief Executive Officer
Role and responsibilities
As Chief Executive Officer, Mr Frankie Tan has been overseeing the overall Management and strategic operations of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Frankie Tan has direct interest of 3,319,500 ordinary shares in Hiap Seng Engineering Ltd and indirect interest of 70,788,639 ordinary shares held by Tan Kuay Hoe Holdings Pte Ltd
Past (for the last 5 years)
Nil
Present
Orion Tuas Shipyard Pte Ltd
Asia Process Industries Pte Ltd
HS Compression & Process Pte. Ltd. Hiap Seng-Sanko TPM Pte Ltd
Tan Kuay Hoe Holdings Pte Ltd HS Info-Tech Pte Ltd
HS Engineering (Middle East) Pte. Ltd

Attachments

HSEL_Announcement_of_Cessation.pdf
Total size =14K