Change - Announcement of Cessation::RE-DESIGNATION OF EXECUTIVE DIRECTOR AND GROUP CEO TO EXECUTIVE DIRECTOR - MR LAW KIAN SIONG

Issuer & Securities

Issuer/ Manager
VERSALINK HOLDINGS LIMITED
Securities
VERSALINK HOLDINGS LIMITED - SG1AC9000003 - 40N
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Jul-2023 01:09:54
Status
New
Announcement Sub Title
RE-DESIGNATION OF EXECUTIVE DIRECTOR AND GROUP CEO TO EXECUTIVE DIRECTOR - MR LAW KIAN SIONG
Announcement Reference
SG230720OTHR38R8
Submitted By (Co./ Ind. Name)
Matthew Law Kian Siong
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Re-designation of Executive Director and Group Chief Executive Officer to Executive Director - Mr Law Kian Siong

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

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 Ms. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Law Kian Siong
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
19/07/2023
Detailed Reason (s) for cessation
Mr Law Kian Siong has relinquished his appointment as Group Chief Executive Officer ("CEO") of the Company to facilitate renewal of the board of directors of the Company in view of the change in controlling shareholders of the Company. For the avoidance of doubt, Mr Law Kian Siong remains as an Executive Director of the Company to focus on the office furniture business of the Group.
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
21/04/2014
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Group Chief Executive Officer
Role and responsibilities
As the Group CEO, Mr Law Kian Siong was responsible for the Group's strategic direction and expansion plans, developing and maintaining relationships with the customers and suppliers as well as overseeing the Group's general operations, in particular, research and development, warehouse, quality assurance, logistics and purchasing departments. As an Executive Director of the Company, Mr Law Kian Siong will continue to manage and oversee the operations of the office furniture business of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
- Sibling of Director of the Group's subsidiaries (Mr Law Kian Guan)

- A director of the principal subsidiaries of the Company, details as set out below
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Directorships

Steeltema (M) Sdn. Bhd.

Aldo Furniture (PJ) Sdn. Bhd.

Alca VStyle Sdn. Bhd.

BSL Venture Sdn. Bhd.

Malaysian Furniture & Furnishings Fair Sdn. Bhd.

SIFC Management Sdn. Bhd.

Other Principal Commitment

President of the KL and Selangor Furniture Association
Present
Directorships

Versalink System Furniture (S) Pte. Ltd.

Jemaramas Jaya Sdn. Bhd.

Malaysian Timber Council

Versalink Marketing Sdn. Bhd.

Versalink Technology Sdn. Bhd.

Other Principal Commitment

Deputy President of Malaysian Furniture Council