Change - Announcement of Cessation::CESSATION AS HEAD OF INVESTMENT AND PRODUCTION OF SPACKMAN ENTERTAINMENT GROUP LIMITED
Issuer & Securities
SPACKMAN ENTERTAINMENT GROUP LIMITED
SPACKMAN ENTERTAINMENT GRP LTD - SG1AB0000004 - 40E
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION AS HEAD OF INVESTMENT AND PRODUCTION OF SPACKMAN ENTERTAINMENT GROUP LIMITED
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
The Company was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 22 July 2014. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with 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. Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
Name Of Person
Jung Hyun Lee
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Jung Hyun Lee ("Mr. Lee") has decided to resign as Head of Investment and Production of the Group on his own accord subsequent to the Proposed Restructuring (as defined and described in the Company's announcement dated 19 April 2016).
Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Lee as Head of Investment and Production of the Group.
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?
If Yes, Please provide full details
Ms. Eugene Lee, the Executive Director and Chief Producer of the Company, will be assuming the roles and responsibilities of Mr. Lee, supported by the management team of the Company.
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.)
Head of Investment and Production
Role and responsibilities
As Head of Investment and Production of the Group, Mr. Lee is primarily responsible for managing and overseeing film production and development, and financing for films from other investors.
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?
Past (for the last 5 years)