Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
GLOBAL INVESTMENTS LIMITED
Securities
GLOBAL INVESTMENTS LIMITED - SGXC73602341 - B73
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Apr-2019 17:26:34
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG190425OTHRN4D2
Submitted By (Co./ Ind. Name)
Wong Yen Sim
Designation
Assistant Secretary
Effective Date and Time of the event
25/04/2019 17:00:00
Description (Please provide a detailed description of the event in the box below)
Retirement as Independent Director at the conclusion of Annual General Meeting to be held on 25 April 2019.

Additional Details

Name Of Person
Adrian Chan Pengee
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
25/04/2019
Detailed Reason (s) for cessation
Mr Adrian Chan Pengee did not stand for re-election at the 2019 AGM as part of the Board renewal process and to uphold standard of corporate governance as his tenure as an independent director has now reached nine years. Consequently, he ceased to act as the Lead Independent Director, the Chairman of the Nomination and Governance Committee and a member of the Audit and Risk Management Committee and the Remuneration Committee.
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
05/05/2009
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)
4
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.)
Lead Independent Director, Chairman of Nomination and Governance Committee, member of Audit and Risk Management and Remuneration Committees.
Role and responsibilities
Non-executive Director
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?
Yes
Shareholding Details
Deemed Interest: 40,585 GIL shares
Past (for the last 5 years)
Please see attached.
Present
Please see attached.

Attachments

66_20190425_ListOfDirectorships_AdrianChan.pdf
Total size =12K