Change - Announcement of Cessation::RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR - HEW KOON CHAN

Issuer & Securities

Issuer/ Manager
ECOWISE HOLDINGS LIMITED
Securities
ECOWISE HOLDINGS LIMITED - SG1N88910129 - 5CT
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
04-May-2021 22:11:41
Status
New
Announcement Sub Title
RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR - HEW KOON CHAN
Announcement Reference
SG210504OTHRUF5Y
Submitted By (Co./ Ind. Name)
Cao Shixuan
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by ecoWise Holdings Limited ("Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor"), in accordance with Rule 226(2)(b) 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 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. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd., at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Hew Koon Chan
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
04/05/2021
Detailed Reason (s) for cessation
Mr Hew Koon Chan ("Mr Hew") has highlighted that currently, one of the key challenges of the Group is in relation to its investments in China, where two of such investments are currently under legal proceedings. Due to Mr Hew's lack of proficiency in the Chinese language (both written and read), Mr Hew faced challenges in understanding documentations and the Board's discussions relating to these matters, and has not been able to contribute positively in this area. As a result, Mr Hew is of the view that it is appropriate that he resigns as a Director of the Company so that the Board is able to find a more suitable candidate to assist in the Group's investments in China.

The Sponsor, after having interviewed Mr Hew, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Hew as a Director 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
12/09/2019
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.)
Non-Executive Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and the Nominating Committee
Role and responsibilities
Non-Executive Independent Director, Chairman of the Audit Committee and a member of the Remuneration Committee and the Nominating Committee
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?
No
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