Change - Announcement of Cessation::Resignation of Mr. Liu ChangSheng as Non-Executive Non-Independent Director
Issuer & Securities
METECH INTERNATIONAL LIMITED
METECH INTERNATIONAL LTD - SGXE91187273 - V3M
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Mr. Liu ChangSheng as Non-Executive Non-Independent Director
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Liu ChangSheng as Non-Executive Non-Independent Director of Metech International Limited.
This announcement has been prepared by the Company and its contents have 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 (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 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: Name: Mr. Lay Shi Wei, Registered Professional, RHT Capital Pte. Ltd. Address: 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619 Telephone: (65) 6381 6966.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Liu ChangSheng ("Mr. Liu") has resigned as the Non-Executive Non-Independent Director of Metech International Limited (the "Company") with effect from 23 October 2020 to devote more time to his family affairs.
Although Mr. Liu is the Chairman of the Board, his appointment was Non-Executive in nature and there were no outstanding issues in the Company that required his follow up.
In this interim period, management will be led by Ms Samantha Hua, Deputy Chief Executive Officer of the Company and Director of a wholly owned subsidiary, Nolash Tech Pte. Ltd., whom has been working in the Group for many years and is familiar with the Group s business in supply chain management.
The Sponsor, after having interviewed Mr. Liu ChangSheng, is satisfied that other than as disclosed in the announcement, there is no other reason for the resignation of Mr. Liu ChangSheng as Non-Executive Non-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?
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.)
Non-Executive Non-Independent Chairman
Role and responsibilities
Mr. Liu's key roles and responsibilities were to spearhead and develop the new business of the Group.
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?
19,797,439 ordinary shares (deemed)
Past (for the last 5 years)
Qingdao Zhongheng Huaxin Financial Leasing Co., Ltd
HBDHF Finance Limited
Guorong China Finance Bank (Beijing) Asset Management Company Limited
Henan Shengning Industrial Co., Ltd
Henan Express Carving Building Material Co., Ltd.
Metech International Limited
Nolash Tech Pte. Ltd.
Wish Hospitality Holdings Pte Ltd
Wish Health Management (Shanghai) Co., Ltd.
Hoo Kou Wei (Shanghai) Food and Beverage Management Co. Ltd.
Raffles Brands Pte. Ltd.
Raffles Brands Management (Shanghai) Co. Ltd.
Raffles Financial Limited
Raffles Xchange Limmited
Changsheng Investment Development Limited
Bluegas Private Limited
KTL Global Limited
GS Holdings Limited
Nolash Agritech (Shanghai) Co., Ltd.