Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR
Issuer & Securities
CHINA KUNDA TECHNOLOGY HOLDINGS LIMITED
CHINA KUNDA TECH HOLDINGS LTD - SG1X41941300 - GU5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Submitted By (Co./ Ind. Name)
Ong Wei Jin
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Independent Director
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: firstname.lastname@example.org).
Name Of Person
Li Zhiqiang ("Mr Li")
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pursue personal interest.
Following the aforesaid cessation, Mr Li has also relinquished his position as a member of the Audit and Remuneration Committee of the Company.
Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in the announcement, there are no material reasons for the resignation of Mr Li as an Independent Director of the Company.
The Company expresses its gratitude to Mr Li for his valuable contributions during his tenure of service.
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?
If Yes, Please provide full details
Yes. Following the resignation of Mr Li, the number of members in the Audit and Remuneration Committee has fallen below three (3). The Company is currently looking for a suitable candidate to replace Mr Li to ensure that the fulfilment of requirements under the Catalist Listing Rules and the Code of Corporate Governance.
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.)
Independent Director and a member of Audit Committee and Remuneration Committee
Role and responsibilities
Non-executive. Independent Director and a member of Audit Committee and Remuneration Committee
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?
Direct interest of 950,000 ordinary shares of the Company
Past (for the last 5 years)
He Yuan Da Hua Co., Ltd
Beijing Hualian Automobile Development Co., Ltd
Shenzhen Zhongqi Kaihua Industry Co., Ltd
Zhong Qi Hua Yuan Shi Ye Development Company