Change - Announcement of Cessation::Cessation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
REX INTERNATIONAL HOLDING LIMITED
Securities
REX INTERNATIONAL HOLDING LTD - SG2G04994999 - 5WH

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-May-2014 17:40:32
Status
New
Announcement Sub Title
Cessation of Chief Financial Officer
Announcement Reference
SG140508OTHREF14
Submitted By (Co./ Ind. Name)
Dan Brostrom
Designation
Executive Director and Chairman
Description (Please provide a detailed description of the event in the box below)
The Company was listed on Catalist of the Singapore Exchange Securities Trading Limited (the SGX-ST) on 31 July 2013. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the Sponsor).

This Announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the relevant rules of the SGX-ST. 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 Mr Mark Liew, Managing Director, Corporate Finance, at 20 Cecil Street, #21-02 Equity Plaza, Singapore 049705, telephone (65) 6229 8088.

Additional Details

Name Of Person
Ake Knutsson
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
08/05/2014
Detailed Reason (s) for cessation
To particularly focus on the Group's activities in Europe, in the capacity as an advisor. Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ake Knutsson as Chief Financial Officer of the Group (CFO). In addition, there are no concerns with regard to financial reporting that led to the cessation of the CFO and there are no disagreements between the CFO and the Board of Directors of the Company with regard to practices that will have an impact to the Group's financial reporting.
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?
Yes
If Yes, Please provide full details
Mr Per Lind has been appointed as the Chief Financial Officer of the Group with effect from 8 May 2014.
Date of Appointment to current position
01/06/2013
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)
2
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.)
Chief Financial Officer
Role and responsibilities
Mr Knutsson was responsible for the Group's finance, treasury, administration and internal audit functions.
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
218,750 ordinary shares and 375,000 share options in Rex International Holding Limited
Past (for the last 5 years)
- Lime Petroleum Norway AS (from August 2012 to February 2014) - Equus Consulting AB (from October 2011 to November 2013)
Present
Zaccus Consulting AB (from September 2013)