Change - Announcement of Cessation::Resignation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
MM2 ASIA LTD.
Securities
MM2 ASIA LTD. - SG1DC0000006 - 1B0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-May-2024 19:53:31
Status
New
Announcement Sub Title
Resignation of Lead Independent Director
Announcement Reference
SG240531OTHRUKE2
Submitted By (Co./ Ind. Name)
Melvin Ang Wee Chye
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Tan Liang Pheng ("Mr Tan") as Lead Independent Director

Additional Details

Name Of Person
Tan Liang Pheng
Age
76
Is effective date of cessation known?
Yes
If yes, please provide the date
31/05/2024
Detailed Reason (s) for cessation
Mr Tan has served on the Board of Directors (the "Board") of the Company for more than nine years. In view of the nine-year tenure limit for Independent Directors prescribed under the Listing Manual of the Singapore Exchange Securities Trading Limited, Mr Tan has decided to step down and resign with effect from 31 May 2024 to facilitate board renewal.

Following Mr Tan's resignation, Mr Tan shall cease to be Chairman of Remuneration Committee and a member of Audit Committee and Nominating Committee.

The Company would like to express its gratitude and appreciation for Mr Tan's valuable contributions to the Board during his tenure as Lead Independent 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?
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
04/11/2014
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
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 Remuneration Committee and a Member of Audit Committee and Nominating Committee
Role and responsibilities
Lead Independent Director, Chairman of Remuneration Committee and a Member of Audit Committee and Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest - 171,400
Past (for the last 5 years)
Nil
Present
Kimeda Pte. Ltd.