Change - Announcement of Cessation::Cessation of Director of Colex Environmental Pte Ltd

Issuer & Securities

Issuer/ Manager
COLEX HOLDINGS LIMITED
Securities
COLEX HOLDINGS LIMITED - SG1G56870536 - 567
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Dec-2021 17:27:00
Status
New
Announcement Sub Title
Cessation of Director of Colex Environmental Pte Ltd
Announcement Reference
SG211222OTHR01H3
Submitted By (Co./ Ind. Name)
Foo Soon Soo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Director of Colex Environmental Pte Ltd


This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Desmond Chan Kwan Ling
Age
66
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2021
Detailed Reason (s) for cessation
Desmond Chan Kwan Ling's ("Mr Chan") employment as Director/General Manager ("GM") of Colex Environmental Pte Ltd ("CEPL") (a wholly-owned subsidiary of the Company) ceased in accordance with the provisions of his employment contract with the Company. Mr Chan is currently serving his notice period until 31 December 2021.

Mr Chan's role and responsibilities will be taken over by Mr Kelvin Liew Kim Tiong, Director - Waste Management Division. The Board is satisfied that there is continuity of operational management in the Company.

After having interviewed Mr Chan and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Chan as the Director/GM of CEPL.
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
07/09/2012
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)
2
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.)
Director/General Manager
Role and responsibilities
Mr Chan is responsible for the day-to-day operation of the waste management division.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
Nil