Change - Announcement of Cessation::Retirement of Non-Executive Director

Issuer & Securities

Issuer/ Manager
IPS SECUREX HOLDINGS LIMITED
Securities
IPS SECUREX HOLDINGS LIMITED - SG1BJ0000005 - 42N
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Oct-2024 21:26:08
Status
New
Announcement Sub Title
Retirement of Non-Executive Director
Announcement Reference
SG241025OTHRMEG6
Submitted By (Co./ Ind. Name)
Ong Beng Chye
Designation
Non-Executive and Non-Independent Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by IPS Securex Holdings Limited ("Company") and has been reviewed by the Company's sponsor, United Overseas Bank Limited ("Sponsor"), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ("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 Mr. David Tham, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6533 9898.

Additional Details

Name Of Person
Chan Tien Lok
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
25/10/2024
Detailed Reason (s) for cessation
Retirement as Non-Executive Director at the Company's Annual General Meeting held on 25 October 2024.

After having interviewed Mr. Chan, to the best of its knowledge and save as disclosed in this announcement, the Sponsor is not aware of any material reason for the retirement of Mr. Chan as the Non-Executive Director of the Company which would have an adverse effect on 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
10/10/2023
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director, a member of the Audit Committee, Nominating Committee and Remuneration Committee.
Role and responsibilities
Role and responsibilities as a Non-Executive Director, a member of the Audit Committee, Nominating Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Chan is the controlling shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest: 120,000 shares
Deemed interest in 248,820,000 shares held by IPS Technologies Pte. Ltd. ("IPST"), by virtue of Section 4 of the Securities and Futures Act 2001 of Singapore as he owns 65% of the shareholding in IPST.
Past (for the last 5 years)
Director of:
- Europower Technology Pte Ltd - Linnhoff India Pvt Ltd
- IPS Leasing Pte Ltd
- Lintec & Linnhoff Maschinen Pte Ltd (struck off)
Present
Present Director of:
- IPS Technologies Pte. Ltd.
- IPS Realty Pte Ltd
- IPS Foo Ngan Sdn Bhd
- IPS Group Pte Ltd
- Lintec & Linnhoff International Pte. Ltd.
- Fibrtech (HK) Ltd
- Lintec & Linnhoff Holdings Pte Ltd
- Lintec & Linnhoff Asia-Pacific Pte Ltd (formerly known as Linnhoff Asphalt Pte Ltd)
- Lintec & Linnhoff Concrete Pte Ltd (formerly known as Lintec Concrete Technologies Pte Ltd)
- Lintec & Linnhoff Germany Gmbh
- Lintec & Linnhoff China Ltd (formerly known as Lintec China Ltd)
- IPS Perfex Holdings Pte Ltd
- Perfex International Private Limited
- Perfex Heat Transfer Sdn Bhd
- IPS Leasing Pte. Ltd.
- Perfex Radiators Pte Ltd