Change - Announcement of Cessation::Retirement of Executive Director

Issuer & Securities

Issuer/ Manager
VALUETRONICS HOLDINGS LIMITED
Securities
VALUETRONICS HOLDINGS LIMITED - BMG9316Y1084 - BN2

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-May-2014 07:01:42
Status
New
Announcement Sub Title
Retirement of Executive Director
Announcement Reference
SG140528OTHRGYIE
Submitted By (Co./ Ind. Name)
Tse Chong Hing
Designation
Chairman & Managing Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Executive Director

Additional Details

Name Of Person
Hung Kai Wing
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
27/05/2014
Detailed Reason (s) for cessation
Retirement as an Executive 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?
Yes
If Yes, Please provide full details
Mr Hung has been a director of the Company's principal operating subsidiary, Honor Tone Limited, since 10 March 2000 and will continue to remain a director after his retirement from the Company's Board of Directors. Mr Hung will also continue to be a key executive officer of the Company, responsible for overseeing the manufacturing operations of the Group.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
25/08/2006
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Executive

Mr Hung is responsible for overseeing the manufacturing operations of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N.A.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
14,202,237 shares in the Company
Past (for the last 5 years)
Nil
Present
(1) Honor Tone Limited (2) Value Chain Limited (3) Master Brands HK Limited (4) Mighty Resources Inc (5) Value Creation Enterprise Limited