Change - Announcement of Cessation::Resignation of Mr Pao Kiew Tee as Lead Independent Non-Executive Director
Issuer & Securities
MARY CHIA HOLDINGS LIMITED
MARY CHIA HOLDINGS LIMITED - SG1Y51946677 - 5OX
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Mr Pao Kiew Tee as Lead Independent Non-Executive Director
Submitted By (Co./ Ind. Name)
Ho Yow Ping (He YouPing)
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Pao Kiew Tee as Lead Independent Non-Executive Director.
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms Charmian Lim (Tel: (65) 6232 3210), at 1 Robinson Road, #21- 00 AIA Tower, Singapore 048542.
Name Of Person
Pao Kiew Tee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Pao Kiew Tee ("Mr. Pao") is stepping down as a director of the Company to allow for renewal of the Board.
Mr Pao will also cease as the Lead Independent Director, Chairman of the Audit and Remuneration Committees and a member of the Nominating Committee.
Mr Pao had on 27 July 2022, informed the Board of his intention to step down as Lead Independent Director with effect from 1 August 2022. The Nominating Committee and the Board had accepted his resignation on 28 July 2022. After having interviewed Mr Pao and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Pao as a director 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Non-Executive Director, Chairman of the Audit and Remuneration Committees and a member of the Nominating Committee.
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1. New Silkroutes Group Limited
2. ZJM Motors Pte Ltd
3. ZJM International Pte Ltd
1. Boldtek Holdings Limited
2. Wong Fong Industries Limited