Change - Announcement of Cessation::RETIREMENT OF NON-INDEPENDENT AND NON-EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
OUE LIPPO HEALTHCARE LIMITED
Securities
OUE LIPPO HEALTHCARE LTD - SG2F86994413 - 5WA
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Apr-2019 18:08:50
Status
New
Announcement Sub Title
RETIREMENT OF NON-INDEPENDENT AND NON-EXECUTIVE DIRECTOR
Announcement Reference
SG190425OTHRL9F5
Submitted By (Co./ Ind. Name)
Mr. Yet Kum Meng
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Non-Independent and Non-Executive Director.

This announcement has been prepared by the Company and its contents have been reviewed by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship (Mailing address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Dr. Stephen Riady
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
25/04/2019
Detailed Reason (s) for cessation
Dr Stephen Riady, who retired by rotation pursuant to Article 93 of Company's Constitution, did not seek for re-election at the Annual General Meeting of the Company held on 25 April 2019 in order for the Company to comply with provision 2.2 of the Code of Corporate Governance 2018. Dr Riady accordingly retired as a Director at the conclusion of the said Annual General Meeting.

Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Dr. Stephen Riady as Non-Independent and Non-Executive 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
17/07/2017
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent and Non-Executive Director.
Role and responsibilities
The role and responsibilities as Non-Independent and Non-Executive Director.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Dr. Stephen Riady is the brother of Mr. James Tjahaja Riady who is a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dr. Stephen Riady holds 100% of the issued share capital of Lippo Capital Group Limited, which is the holding company of Lippo Capital Holdings Company Limited. Lippo Capital Holdings Company Limited is an intermediate holding company of Pacific Landmark Holdings Limited. Pacific Landmark Holdings Company Limited and Admiralty Station Management Limited jointly hold Lippo ASM Asia Property Limited, the indirect holding company of Treasure International Holdings Pte. Ltd.("TIHPL"). TIHPL has a direct interest in 2,859,029,000 shares (64.35%) of OUE Lippo Healthcare Limited (the "Company"). Accordingly, Dr. Stephen Riady has a deemed interest in the Company's shares held by TIHPL and shares of the Company's subsidiaries indirectly or directly held by the Company.

Past (for the last 5 years)
Please see attached Annex A.
Present
Please see attached Annex A.

Attachments

Annex A_Dr. Stephen Riady.pdf
Total size =31K