Change - Announcement of Cessation::Resignation of Executive Chairman and Chief Executive Officer - Mr Chu Ming Kin

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GRP LIMITED - SGXE87155607 - XZB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Jun-2025 19:02:04
Status
New
Announcement Sub Title
Resignation of Executive Chairman and Chief Executive Officer - Mr Chu Ming Kin
Announcement Reference
SG250613OTHRJRZQ
Submitted By (Co./ Ind. Name)
Tay Boon Zhuan
Designation
Independent Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and 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 Charmian Lim, Telephone: +65 6232 3210, at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Chu Ming Kin
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
13/06/2025
Detailed Reason (s) for cessation
Mr Chu Ming Kin ("Mr Chu") had tendered his resignation on 12 June 2025, to resign from his position as Executive Chairman and Chief Executive Officer ("CEO") of the Company to facilitate the completion of the proposed acquisition of Skylink APAC Pte. Ltd. together with its subsidiaries ("Proposed Acquisition") which constitutes a "reverse takeover" pursuant to the Listing Manual Section B: Rules of Catalist of the SGX-ST, as announced by the Company on 18 March 2025.

The Nominating Committee and the Board, having considered the progress of the Proposed Acquisition, have mutually agreed with Mr Chu for his last day of employment to be 13 June 2025. The Board would like to express its thanks and appreciation to Mr Chu for his contribution to the Company.

The Sponsor, after having corresponded with Mr Chu, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Chu as Executive Chairman and CEO.
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
07/07/2015
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.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed interest of 176,971 shares held through UOB Kay Hian Private Limited
Other Directorships
Past (for the last 5 years)
1. Sincap Land (AUS) Pty Ltd
2. SCL Murray Pty Ltd
Present
1. Kingwell (Hong Kong) Investment Co., Limited
2. PT. Aw Mineral Resources
3. Orion Energy Resources Pte. Ltd. (gazetted to be struck off)
4. Sincap Properties Pte. Ltd.
5. Sincap Australia Pte. Ltd.