Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
USP GROUP LIMITED
Securities
USP GROUP LIMITED - SG1CH0000007 - BRS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-Jul-2017 07:58:01
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG170710OTHR6W31
Submitted By (Co./ Ind. Name)
Li Hua
Designation
CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director

Additional Details

Name Of Person
Ngan See Juan
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
07/07/2017
Detailed Reason (s) for cessation
By a bankruptcy order issued on 22 June 2017, Mr Ngan See Juan ("Mr. Ngan") was made an undischarged bankrupt. Consequently, his office as Director of the Company is vacated in accordance with Regulations 94(a) and 94(c) of the Constitution of the Company and Section 148 of the Companies Act, Chapter 50.
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
29/07/2013
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)
1
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.)
Chairman of the Audit Committee and a member of Nominating Committee and Remuneration Committee
Role and responsibilities
Chairman of the Audit Committee and a member of 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
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
156,250 number of shares in USP Group Limited
Past (for the last 5 years)
- Ziwo Holdings Ltd.
- China Taisan Technology Group Holding Limited
Present
Nil