Change - Announcement of Cessation::Resignation of Mr Anthony Ng Koon Leng as Independent Director of the Company
Issuer & Securities
Issuer/ Manager
HENGYANG PETROCHEMICAL LOGISTICS LIMITED
Securities
HENGYANG PETROCHEM LOG LIMITED - SG1Y78948920 - 5PD
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Dec-2023 23:16:19
Status
New
Announcement Sub Title
Resignation of Mr Anthony Ng Koon Leng as Independent Director of the Company
Announcement Reference
SG231215OTHR3XIZ
Submitted By (Co./ Ind. Name)
GU WEN LONG
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Anthony Ng Koon Leng as Independent Director of the Company
Additional Details
Name Of Person
Anthony Ng Koon Leng
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2023
Detailed Reason (s) for cessation
Mr Anthony Ng Koon Leng ("Mr Ng") has been with the Company for more than 9 years since his appointment as an Independent Director of the Company. In view of the nine-year tenure limit for independent directors prescribed under the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist, Mr Ng has decided to step down and resign to facilitate board renewal.
Following Mr Ng's resignation, Mr Ng will cease to be the Chairman of the Remuneration Committee and Nominating Committee, and a member of the Audit Committee.
In preparation of Mr Ng's resignation, the Board has commenced the search for new directors. Mr Ng (in his capacity as the Chairman of the Nominating Committee of the Company) has interviewed the independent director candidates prior to his resignation. The Board is in the midst of finalising the appointment of the new directors and will continue to be in compliance with the Code of Corporate Governance 2018 following Mr Ng's resignation. The Board will be announcing the appointment of the new independent directors in due course.
After having interviewed Mr Ng and to the best of its knowledge, the Company's sponsor, Xandar Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Ng as the Independent Director, Chairman of the Remuneration Committee and Nominating Committee, and a member of the Audit Committee of 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
19/11/2008
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.)
Non-Executive Independent Chairman of the Board, Chairman of the Remuneration Committee and Nominating Committee, Member of the Audit Committee
Role and responsibilities
Non-Executive, Independent Director
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)
CAC Logistics Services Pte. Ltd.
Present
NIL.
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