Change - Announcement of Cessation::CESSATION OF CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
MAXI-CASH FINANCIAL SERVICES CORPORATION LTD.
Securities
MAXI-CASH FIN SVCS CORP LTD - SG2E90982678 - 5UF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Feb-2022 20:57:30
Status
New
Announcement Sub Title
CESSATION OF CHIEF EXECUTIVE OFFICER
Announcement Reference
SG220224OTHRJHCT
Submitted By (Co./ Ind. Name)
LIM SWEE ANN
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
Retirement of Ng Leok Cheng as the Company's Chief Executive Officer and Executive Director.

Additional Details

Name Of Person
NG LEOK CHENG
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
31/03/2022
Detailed Reason (s) for cessation
Mr Ng Leok Cheng will retire as the Executive Director and Chief Executive Officer of the Company with effect from 31 March 2022. Upon his retirement, he will assume the role of Senior Advisor to facilitate a smooth transition.

The Sponsor has interviewed Mr Ng Leok Cheng, and is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ng as Executive Director and Chief Executive Officer.

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
05/01/2015
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)
4
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.)
Chief Executive Officer and Executive Director
Role and responsibilities
Responsible for the overall management and operations of Maxi-Cash Group, including overseeing the strategies and growth.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
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