Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
OEL (HOLDINGS) LIMITED
Securities
OEL (HOLDINGS) LIMITED - SG0584008601 - 584
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Jan-2020 20:32:45
Status
New
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
SG200115OTHRC240
Submitted By (Co./ Ind. Name)
Tan Ching Chek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Lai Kwok Seng as Independent Non-Executive Director of the Company.

This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), 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 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 details of the contact person for the Sponsor are:-

Name: Mr Nathaniel C.V. (Registered Professional, RHT Capital Pte. Ltd.)
Address: 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619
Tel: 6381 6757

Additional Details

Name Of Person
Lai Kwok Seng
Age
75
Is effective date of cessation known?
Yes
If yes, please provide the date
15/01/2020
Detailed Reason (s) for cessation
Following the change of controlling shareholder of the Company, Mr Lai Kwok Seng resigned as an Independent Director of the Company.

After having interviewed Mr Lai Kwok Seng and to the best of its knowledge, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that saved as disclosed in this announcement, there are no other material reasons for the cessation of Mr Lai Kwok Seng as an Independent Director.
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
12/08/2005
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
NC Chairman, AC and RC member
Role and responsibilities
As above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
Nil