Change - Announcement of Cessation::Cessation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
TRAVELITE HOLDINGS LTD.
Securities
TRAVELITE HOLDINGS LTD. - SG1BF1000002 - BCZ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Jul-2024 17:38:09
Status
New
Announcement Sub Title
Cessation of Lead Independent Director
Announcement Reference
SG240730OTHRGX63
Submitted By (Co./ Ind. Name)
Thang Teck Jong
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Cessation of Lead Independent Director who is the Chairman of the Audit Committee, and a member of the Nominating Committee and Remuneration Committee.

Additional Details

Name Of Person
Foong Daw Ching
Age
73
Is effective date of cessation known?
Yes
If yes, please provide the date
30/07/2024
Detailed Reason (s) for cessation
To facilitate Board rejuvenation, Mr Foong Daw Ching, who has served on the Board for more than nine years from the date of his first appointment, did not seek for re-election and has retired at the conclusion of the annual general meeting of the Company.

In conjunction with Mr Foong Daw Ching's cessation, he has also relinquished his position as Chairman of the Audit Committee, and member of the Nominating Committee and Remuneration 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?
Yes
If Yes, Please provide full details
In view of Mr Foong Daw Ching's cessation, the number of members in each of the Audit Committee, the Nominating Committee and the Remuneration Committee will fall below the minimum number of three members as required under the Code of Corporate Governance 2018.

The Company is cognisant of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited, which states that in the event of any cessation which renders the Audit Committee unable to meet the minimum number (not less than three), the issuer should endeavour to fill the vacancy within two months, but in any case not later than three months

The Company will endeavour to fill the vacancy within two months, but in any case, no later than three months, from 30 July 2024.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
15/02/2007
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Audit Committee, and a member of the Nominating Committee and Remuneration Committee
Role and responsibilities
Non-Executive
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)
ayondo Ltd.
Luminor Financial Holdings Limited
NUHS Fund Limited
NUH Health Research Endowment Fund Board
Present
Suntar Eco-City Limited
ABR Holdings Limited
St Luke's Hospital
St Luke's Eldercare Ltd
Tung Ling PreSchool Education Limited
Crestar Education Group Pte. Ltd.
Church of Singapore
Tung Ling Student Care Centre
Tung Ling Community Services