Change - Announcement of Cessation::Resignation of Lead Independent Director and Non-Executive Vice-Chairman - Mr. Chng Hee Kok
Issuer & Securities
KTL GLOBAL LIMITED
KTL GLOBAL LIMITED - SG1W37938998 - EB7
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Lead Independent Director and Non-Executive Vice-Chairman - Mr. Chng Hee Kok
Submitted By (Co./ Ind. Name)
Chin Teck Oon
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Chng Hee Kok ("Mr. Chng") as Lead Independent Director and Non-Executive Vice-Chairman with effect from 31 March 2022.
Mr. Chng will, following his resignation, relinquish his roles as the Chairman of Nominating Committee and member of the Audit Committee, the Remuneration Committee and the Performance Share Scheme Committee.
Following Mr. Chng's resignation, the Board and the Nominating Committee are currently in the process of reviewing its composition to ensure compliance with the Code of Corporate Governance 2018 (the "Code") to meeting the minimum requirement of Principle 2 (Provision 2.2) of the Code which provides that independent directors should make up a majority of the Board where the Chairman is not independent.
Name Of Person
Chng Hee Kok
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Chng has new commitment and hence will not be able to devote sufficient time to the Group.
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 Director and Non-Executive Vice-Chairman, NC Chairman, AC Member, RC Member and Member of the Performance Share Scheme Committee
Role and responsibilities
Assumed the roles and responsibilities of a Lead Independent Director and Non-Executive Vice-Chairman, Chairman of Nominating Committee, Member of Audit Committee, Member of Remuneration Committee and Member of Performance Share Scheme Committee
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)
Samudera Shipping Line Ltd
Sandpiper Digital Payments AG
Chaswood Resources Holdings Ltd
Rich Capital Holdings Limited (formerly known as Infinio Group Limited)
Sino-American Tours Corporate Pte Ltd
Pacific Century Regional Developments Limited
Luxking Group Holdings Limited
United Food Holdings Limited
The Place Holdings Limited
Blackgold Natural Resources Limited
Metech International Limited
Full Apex (Holdings) Limited
Rational Pricing Technologies Pte Ltd
Ferrstron Electric Pte Ltd
Debao Property Development Ltd