Change - Announcement of Cessation::Cessation of Chief Executive Officer of Retail Galaxy Sdn. Bhd.

Issuer & Securities

Issuer/ Manager
SHOPPER360 LIMITED
Securities
SHOPPER360 LIMITED - SG1DH4000001 - 1F0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Jun-2018 19:39:51
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer of Retail Galaxy Sdn. Bhd.
Announcement Reference
SG180629OTHRJ634
Submitted By (Co./ Ind. Name)
Chew Sue Ann
Designation
Executive Chairman and Group Managing Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer of Retail Galaxy Sdn. Bhd.

This announcement has been prepared by shopper360 Limited (the "Company") and its contents have been reviewed by the Company's sponsor (the "Sponsor"), ZICO Capital Pte. Ltd., for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. 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 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 Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Cheah Boon Chin
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
29/06/2018
Detailed Reason (s) for cessation
The management of shopper360 Limited (the "Company" and together with its subsidiaries, the "Group") has reviewed Ms Cheah Boon Chin's ("Janice") work performance and is of the view that her level of performance has not met the management's expectations for her as chief executive officer of Retail Galaxy Sdn. Bhd., a wholly-owned subsidiary of the Company. Janice was previously the chief executive officer of Jump Retail Sdn. Bhd., a wholly-owned subsidiary of the Company, from January 2011 to 1 April 2018 when she was re-designated as the chief executive officer of Retail Galaxy Sdn. Bhd., a wholly-owned subsidiary of the Company.

As such, the management of the Company has decided to terminate Janice's employment with the Group with effect from 29 June 2018.

The board of directors of the Company does not expect any material adverse impact to the Group's operations as the Company has appointed Ms Lee Jun Ling (General Manager of Business Development and Operations) as business lead for Retail Galaxy Sdn. Bhd..
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
01/04/2018
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer of Retail Galaxy Sdn. Bhd.
Role and responsibilities
Responsible for taking the lead in the strategy, management, operations, administration and business development of Retail Galaxy Sdn. Bhd.
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
139,000 ordinary shares in shopper360 Limited
Past (for the last 5 years)
Nil
Present
Nil