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

Issuer & Securities

Issuer/ Manager
NOEL GIFTS INTERNATIONAL LTD.
Securities
NOEL GIFTS INTERNATIONAL LTD - SG0543000335 - 543
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Aug-2017 17:39:37
Status
New
Announcement Sub Title
RESIGNATION OF NON-EXECUTIVE INDEPENDENT DIRECTOR
Announcement Reference
SG170801OTHRQI6O
Submitted By (Co./ Ind. Name)
Michelle Chong
Designation
Country Finance Manager
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Koh Soo Keong as the Non-Executive Independent Director of Noel Gifts International Ltd. Following his resignation, Mr Koh will also cease to serve as the Lead Independent Director, Chairman of the Remuneration Committee and a Member of the Audit Committee and Nominating Committee.

Additional Details

Name Of Person
Koh Soo Keong
Age
66
Is effective date of cessation known?
Yes
If yes, please provide the date
01/08/2017
Detailed Reason (s) for cessation
To facilitate the renewal of the Board of Directors pursuant to the corporate governance principles and also to support the Board of Directors plan to refresh and rejuvenate the board composition. The Board of Directors and the Management of Noel Group would like to record their sincere appreciation and thanks to Mr Koh for his invaluable contributions to the Company's development over the past 18 years and wish him well for his future.

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
16/08/1999
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non Executive Independent Director and Lead ID, Chairman of Remuneration Committee and a Member of AC and NC.
Role and responsibilities
Non-Executive Independent Director.
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)
1. Agri-Food and Veterinary Authority of Singapore
2. ECS Holdings Limited
3. KS Energy Limited
4. Sino-Singapore (Chengdu) Innovation Park Development Co., Ltd
Present
1. ABL Asia Pte Ltd (Chairman/ Director)
2. Agape Ace Pte Ltd (Director)
3. Ascendas Funds Management (S) Limited (Chairman / Independent Director)
4. CM Services Pte Ltd (Director)
5. EcoSave Pte Ltd (Managing Director)
6. NeuralVision Pte Ltd (Director)
7. Northern Technologies International Corporation (Independent Director)
8. Orita Sinclair School of Design, New Media & the Arts Pte Ltd (Director)
9. Sifood Pte Ltd (Director)
10. Videre Security Solutions Pte Ltd (Director)
11. Zerust Singapore Pte Ltd (Non-Executive Director)