Change - Announcement of Cessation::RETIREMENT OF NON-EXECUTIVE INDEPENDENT DIRECTOR - MR CHONG HUAI SENG

Issuer & Securities

Issuer/ Manager
PLATO CAPITAL LIMITED
Securities
PLATO CAPITAL LTD - SGXE26599816 - YYN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-Apr-2024 17:04:40
Status
New
Announcement Sub Title
RETIREMENT OF NON-EXECUTIVE INDEPENDENT DIRECTOR - MR CHONG HUAI SENG
Announcement Reference
SG240410OTHRQQCY
Submitted By (Co./ Ind. Name)
Ngiam May Ling
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Chong Huai Seng ("Mr Chong") as Non-Executive Independent Director of Plato Capital Limited (the "Company") on 26 April 2024 (i.e. upon completion of the Annual General Meeting scheduled on that date).

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange"), and the Exchange 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 Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Chong Huai Seng
Age
73
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
Mr Chong has served on the Board of Directors (the "Board") of the Company beyond nine years. In line with the Singapore Exchange Securities Trading Limited Catalist Listing Rules' hard coded 9-year limit for independent director to serve on the board of listed companies and to facilitate Board's renewal in the Company, Mr Chong has decided to retire from the Board of the Company.

After having interviewed Mr Chong and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no material reasons for the retirement of Mr Chong as Non-Executive Independent 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
12/09/2008
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
- Non-Executive Independent Director
- Chairman of the Nominating Committee
- Chairman of the Remuneration Committee
- Member of the Audit Committee
Role and responsibilities
Carry out the responsibilities of an Independent Director, Chairman of the Nominating Committee and Remuneration Committee and Member of the Audit Committee.
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)
- Eastwood Way Pte Ltd
- One In Shoes Pte. Ltd.
- ID Capital Pte. Ltd.
- The China Art Foundation (BVI)
Present
- Leading HR Pte. Ltd.
- The Culture Story Pte. Ltd.
- The Red Pencil (Singapore)
- The Artling Pte. Ltd.
- Plato Private Limited
- Family Office For Art Private Limited