Change - Announcement of Cessation::CESSATION OF EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
CPH LTD.
Securities
CPH LTD - SG1G40868794 - 539
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Sep-2020 18:57:23
Status
New
Announcement Sub Title
CESSATION OF EXECUTIVE DIRECTOR
Announcement Reference
SG200929OTHR5A47
Submitted By (Co./ Ind. Name)
Ong Kian Soon
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement relates to the resignation of Mr Chong Cheng Whatt, an Executive Director of the Company.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Chong Cheng Whatt
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2020
Detailed Reason (s) for cessation
Cessation of the printed circuit board business (the "PCB Segment") in November 2019. Mr Chong was in charge of the sales and operations of the PCB Segment which was mainly conducted from the factory in Malaysia. Since cessation of the PCB Segment, Mr Chong has stayed on to assist the Company to handle matters relating to the closure and disposal of the Malaysian factory, as well as the disposal of the other assets of the PCB Segment.

Notwithstanding Mr Chong's cessation as the Executive Director of the Company, he will continue to serve as a director of the Company's Malaysian subsidiary, Circuits Plus (M) Sdn. Bhd., until the conclusion of this entity's winding-up proceedings.

The Company expresses its gratitude to Mr Chong Cheng Whatt for his contributions during his tenure of service.

After having interviewed Mr Chong Cheng Whatt and to the best of its knowledge, 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 Chong Cheng Whatt as the Executive Director of the Company.
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
02/08/2010
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.)
Executive Director
Role and responsibilities
Executive Director, responsible for the sales and operations of the PCB Segment. Subsequent to its cessation in November 2019, Mr Chong is responsible for the matters related to the closure of the Malaysian factory and the disposal of all related assets of the PCB Segment.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest - 500,000 ordinary shares of CPH Ltd.
Past (for the last 5 years)
None
Present
1. Circuits Plus (M) Sdn. Bhd.
2. Eplus Technologies Pte Ltd
3. MNPL Aluminium Centre Sdn. Bhd.
4. Twin Metal Service Centre Sdn. Bhd.