Change - Announcement of Cessation::RESIGNATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SMI VANTAGE LIMITED
Securities
SMI VANTAGE LIMITED - SG1T17929525 - Y45
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Dec-2022 18:32:11
Status
New
Announcement Sub Title
RESIGNATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG221227OTHR83LB
Submitted By (Co./ Ind. Name)
Mark Francis Bedingham
Designation
Executive Director, President and CEO
Description (Please provide a detailed description of the event in the box below)
Resignation of Independent Director

Additional Details

Name Of Person
Wee Sung Leng
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
01/01/2023
Detailed Reason (s) for cessation
Mr Wee Sung Leng has served as Independent Director on the Board of the Company for an aggregate period of more than nine years and is resigning as part of the board renewal process.

Following his resignation as an Independent Director, he will also be vacating his positions as Chairman of the Nominating Committee and the Remuneration Committee as well as member of the Audit Committee of the Company.
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
06/11/2013
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Remuneration and Nominating Committee, and member of Audit Committee.
Role and responsibilities
Non-executive and Independent.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Wee Sung Leng holds 363,636 ordinary shares in the Company.
Other Directorships
Past (for the last 5 years)
MoneyMax Financial Services Ltd.
Present
1. Combine Will International Holdings Limited
2. Fortune Green Global Corp.
3. Hoe Leong Corporation Ltd.