Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
MONEYMAX FINANCIAL SERVICES LTD.
Securities
MONEYMAX FINANCIAL SERVICESLTD - SG2G06995143 - 5WJ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Aug-2015 18:38:12
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG150806OTHRQFK6
Submitted By (Co./ Ind. Name)
Lim Yong Guan
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by MoneyMax Financial Services Ltd. (the "Company") and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 persons for the Sponsor are Mr Khong Choun Mun, Managing Director, Equity Capital Markets and Mr David Tham, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6533 9898.

Additional Details

Name Of Person
Lim Liang Eng
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
06/08/2015
Detailed Reason (s) for cessation
To pursue her personal interests.
The Sponsor, after having interviewed Mdm Lim Liang Eng, is not aware of any material reasons relating to her cessation as Executive Director which would have an adverse impact on 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
09/10/2008
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Mdm Lim Liang Eng supervised, inter alia, the procurement operations, purchasing, merchandising and pricing strategies of the Company and its subsidiaries (collectively, the "Group").
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mdm Lim Liang Eng is the sister of Mr Lim Yong Guan and Mr Lim Yong Sheng. Mr Lim Yong Guan is the Executive Chairman and Chief Executive Officer of the Company. Money Farm Pte. Ltd. ("Money Farm") is the controlling shareholder of the Company. All of the equity interest in Money Farm is collectively held by Mr Lim Yong Guan, Mr Lim Yong Sheng and Mdm Lim Liang Eng. As such, pursuant to Section 4 of the Securities and Futures Act, each of them is deemed to be interested in the shares which Money Farm holds in the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest: 4,350,000
Deemed Interest: 213,000,000

Money Farm is the controlling shareholder of the Company which owns 213,000,000 shares representing approximately 60.2% of the issued ordinary shares of the Company. All of the equity interest in Money Farm is collectively held by Mr Lim Yong Guan, Mr Lim Yong Sheng and Mdm Lim Liang Eng. As such, pursuant to Section 4 of the Securities and Futures Act, each of them is deemed to be interested in the shares which Money Farm holds in the Company.
Past (for the last 5 years)
Please refer to attachment.
Present
Please refer to attachment.

Attachments

MMFS_Directorship_Lim Liang Eng.pdf
Total size =114K