Change - Announcement of Cessation::Cessation of Independent Director (Mr Eu Lee Koon)

Issuer & Securities

Issuer/ Manager
ATLANTIC NAVIGATION HOLDINGS (SINGAPORE) LIMITED
Securities
ATLANTIC NAVIGATION HLDG(S)LTD - SG2F00983534 - 5UL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Dec-2018 01:03:59
Status
New
Announcement Sub Title
Cessation of Independent Director (Mr Eu Lee Koon)
Announcement Reference
SG181224OTHR8QQ5
Submitted By (Co./ Ind. Name)
Wong Siew Cheong
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Independent Director (Mr Eu Lee Koon).

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), SAC Capital Private Limited, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

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 Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Eu Lee Koon
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
21/12/2018
Detailed Reason (s) for cessation
Board restructuring pursuant to the completion of the Proposed Subscription.

The Sponsor, after having interviewed Mr Eu Lee Koon, is satisfied that other than as disclosed in this announcement, there is no other reason for the resignation of Mr Eu Lee Koon.
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
31/07/2012
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee, member of Audit Committee and Nominating Committee.
Role and responsibilities
Assumed the roles and responsibilities of the Independent Director, Chairman of the Remuneration Committee, member of Audit Committee and Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
260,000 share options granted under the Atlantic 2008 Employee Share Option Scheme.
Past (for the last 5 years)
3vs1 Asia Growth Fund 2 Ltd
Thakral Capital Holdings Pte. Ltd.
Present
Capital Plus Pte Ltd