Change - Announcement of Cessation::CESSATION OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
KING WAN CORPORATION LIMITED
Securities
KING WAN CORPORATION LIMITED - SG1J32888328 - 554
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Jul-2024 17:52:52
Status
New
Announcement Sub Title
CESSATION OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR
Announcement Reference
SG240731OTHR28WM
Submitted By (Co./ Ind. Name)
CHUA ENG ENG
Designation
MANAGING DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Chua Kim Hua as Non-Independent Non-Executive Director.

Additional Details

Name Of Person
CHUA KIM HUA
Age
84
Is effective date of cessation known?
Yes
If yes, please provide the date
01/08/2024
Detailed Reason (s) for cessation
As part of the Board succession plan, Mr Chua Kim Hua ("Mr Chua") will retire on 1 August 2024.

Founder Mr Chua's vision, dedication, and leadership have been the guiding force behind King Wan since its inception. Over the years, Mr Chua's leadership has cultivated a cohesive and collaborative environment among the employees, uniting them toward common goals and laying a solid foundation for the Group poised for future growth and success. The Company would like to extend our deepest gratitude to Mr Chua for his exemplary leadership and invaluable guidance.
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
08/02/2000
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.)
Non-Independent and Non-Executive Director
Role and responsibilities
Non-Independent and Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Chua Kim Hua is the father of Ms Chua Eng Eng (Managing Director) and the brother of Mr Chua Hai Kuey (Executive Director)
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest - 88,226,638 ordinary shares in the Company
Past (for the last 5 years)
King Wan Construction Pte Ltd
King Wan Industries Pte Ltd
King Wan Development Pte Ltd
K & W Mobile Loo Services Pte Ltd
K & W Eco Plus Pte Ltd
Harmony Investment Holding Pte Ltd
Singapore Wonder Foods Pte Ltd
Present
King Wan Corporation Ltd
Gold Hyacinth Development Pte Ltd (Alternate Director)
Dalian Shicheng Property Development (S) Pte Ltd
Meadows Bright Development Pte Ltd
Xylem Investments Pte Ltd