Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Jan-2018 20:09:49
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Kelvin Lim Ching Song
Executive Director and Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Please refer to the announcements dated 31 January 2018 by the Company (as defined below) on the appointment of Mr. Kenneth Goh Fuqiang as Independent Director and changes in the composition of the Board and Board Committees. Based on the aforesaid and taking into account this cessation, the Audit Committee will have a minimum of three members.

This announcement has been prepared by IPS Securex Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "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. The Sponsor and the SGX-ST assume 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 Mr David Tham, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, Telephone: +65 6533 9898.

Additional Details

Name Of Person
Anthony Ang Meng Huat
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pursue other interest.

The Sponsor, after having interviewed Mr. Anthony Ang Meng Huat, is not aware of any material reason relating to his cessation which would have an adverse impact on 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, Member of Audit Committee and Remuneration Committee
Role and responsibilities
Duties of Independent Director as covered in terms of reference of the Audit Committee, 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
Shareholding interest in the listed issuer and its subsidiaries?
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