Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Aug-2023 18:20:02
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG230831OTHR1S3O
Submitted By (Co./ Ind. Name)
Yao Liang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Sheila Ong, Registered Professional, W Capital Markets Pte. Ltd., 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3543.

Additional Details

Name Of Person
Sun Shu
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
31/08/2023
Detailed Reason (s) for cessation
Mr Sun Shu has decided to resign as an Independent Director due to the challenges posed by advancing age which made it difficult for him to meet the demands of the board and related committees.

The Sponsor, having spoken to Mr Sun, is satisfied that, other that as disclosed in this announcement, there are no other material reasons for the resignation of Mr Sun.
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
22/01/2020
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Vice Chairman, Non-Executive Lead Independent Director, Chairman of RC and Shen Yao Performance Award Committee and Member of AC and NC.
Role and responsibilities
As the Lead Independent Director, to be available to shareholders of the Company where they have concerns and for which contact through the normal channels of the Chairman or the Financial Controller of the Company has failed to resolve or is inappropriate.

To perform the functions of Non-Executive Independent Director, and to fulfil the duties and responsibilities of the Chairman of the Remuneration Committee, the Shen Yao Performance Award Committee, and Member of the Audit Committee and Nominating Committee.
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?
No
Past (for the last 5 years)
Dasin Retail Trust
Present
Nil