Change - Announcement of Cessation::Resignation of Executive Director - Oh Teik Khim

Issuer & Securities

Issuer/ Manager
PLATO CAPITAL LIMITED
Securities
PLATO CAPITAL LIMITED - SG1Y93950240 - 5PI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Sep-2019 19:55:14
Status
New
Announcement Sub Title
Resignation of Executive Director - Oh Teik Khim
Announcement Reference
SG190930OTHRQBEK
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Please see attached.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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 Jennifer Tan, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Oh Teik Khim
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2019
Detailed Reason (s) for cessation
As part of his retirement plan, Mr Oh Teik Khim is resigning from his position as the Executive Director, Chief Operating Officer and Chief Financial Officer of Plato Capital Limited (the "Company"). Mr Oh Teik Khim will remain as director of the subsidiaries, associated companies and/or joint venture companies of the Company.

The Board has accepted Mr Oh Teik Khim's resignation, and expressed its gratitude and appreciation to Mr Oh Teik Khim for his contributions to the Company.

The Company is in the process of identifying a permanent replacement to undertake the finance related responsibilities which were undertaken by Mr Oh Teik Khim and will make the necessary announcement(s) when the appointment is finalised.

After having interviewed Mr Oh Teik Khim 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 Oh Teik Khim as the Executive Director, Chief Operating Officer and Chief Financial Officer.

In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr Oh Teik Khim, and there are no disagreements between Mr Oh Teik Khim and the Company's Board of Directors with regards to practices that will have an impact on the Company's financial reporting.
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
31/10/2003
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director, Chief Operating Officer, Chief Financial Officer
Role and responsibilities
Mr Oh Teik Khim as the Chief Financial Officer was responsible for overseeing the finance activities of the Group and the preparation of all financial reporting of the Group.

As the Chief Operating Officer, Mr Oh Teik Khim was responsible for overseeing the Company's business operations.

Following the resignation of Mr Oh Teik Khim, his finance related responsibilities would be taken over by the Group's existing finance manager and finance team in the interim period until a permanent replacement is appointed to undertake the finance related responsibilities which were undertaken by Mr Oh Teik Khim. With regards to Mr Oh Teik Khim's responsibilities as a Chief Operating Officer, such responsibilities would be taken over by the CEO of the Company.
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?
Yes
Shareholding Details
1,378,761 share options and 689,381 share awards in the Company.
Past (for the last 5 years)
TP Services (Edinburgh) Limited
TP London (BVI) Limited
Plantation Processing Sdn Bhd
Kemajuan Pantai Timor Sdn Bhd
TP Liverpool (BVI) Limited
TP Hotel (Liverpool) Limited
LC Airfields Sdn Bhd
Plato-Straits Heritage Sdn Bhd
TP Ipoh Sdn Bhd
PKTech India Private Limited
Formation Skyline Sdn Bhd
Present
Plato Capital Limited
Asian Strategic Investments Group Limited
Plato Hong Kong Limited
Plato Capital Sdn Bhd
Plato Private Limited
Plato Solutions Sdn Bhd
Plato Management Sdn Bhd
Plato-Straits Heritage Properties Sdn Bhd
Plato Aviation Holdings Limited
Positive Carry Pte Ltd
Positive Carry Limited
Positive Carry Sdn Bhd
TYK Capital Sdn Bhd
Monteco Holdings Limited
Truesource Pte Ltd
Truesource Sdn Bhd
Epsom College Malaysia Sdn Bhd
Ormond (HK) Limited
Plato Capital Investment Fund
Tune Plato Ventures Sdn Bhd
Asiana Ventures Sdn Bhd
Prompt Business Sdn Bhd
Firma Atasan Sdn Bhd
LSA Ventures Sdn Bhd (formerly known as Tune Plato Subhome Sdn Bhd)
Monteco Dublin Management Limited
Plato Capital Holdings Limited
Ormond Group Pte Ltd
TP Real Estate Holdings Pte Ltd
TP Edinburgh (BVI) Limited
TP Hotel (Edinburgh) Limited
OHG Services Sdn Bhd (formerly known as TP Sepang Sdn Bhd)
TP Melbourne Sdn Bhd
TP Melbourne Pty Limited
TP Services (Melbourne) Pty Limited
TP International Pty Ltd
Ormond Lifestyle Services Sdn Bhd (formerly known as Yummy Kitchen Sdn Bhd)
Plantation Agencies Sdn Bhd
Barkath Burkill Plantations Sdn Bhd
Tradelane Sdn Bhd
Wanrui Holdings Sdn Bhd
Tradelane Pte Ltd
Wanrui Holdings Pte Ltd