Change - Announcement of Cessation::Announcement of Cessation of Non-Independent Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
NAUTICAWT LIMITED
Securities
NAUTICAWT LIMITED - SG1BE2000004 - 42D
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Nov-2023 12:21:05
Status
New
Announcement Sub Title
Announcement of Cessation of Non-Independent Non-Executive Chairman
Announcement Reference
SG231123OTHRZ73X
Submitted By (Co./ Ind. Name)
Kenny Lim Yeow Hua
Designation
Lead Independent Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Lee Khai Yinn (Tel: (65) 6232 3210), 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Dr Chirasak Chiyachantana
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
23/11/2023
Detailed Reason (s) for cessation
Dr Chirasak Chiyachantana ("Dr Chirasak") has tendered his resignation with effect from 23 November 2023 in light of the SEC Complaint as set out in the Company's announcement dated 20 November 2023.

Based on its enquiries, the Company's sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Dr Chirasak as a Non-Independent Non-Executive Chairman 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
13/12/2019
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 Non-Executive Chairman
Role and responsibilities
Non-Independent Non-Executive Chairman
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?
Yes
Shareholding Details
400,000,000 Ordinary Shares
Other Directorships
Past (for the last 5 years)
Capital Link North Sathorn Co., Ltd.
World Award Patong Co., Ltd.
World Corporation Public Company Limited
World Credit Foncier Co., Ltd
Nation U Co., Ltd
Present
World Industrial Estate Co., Ltd. (in the process of stepping down)
Chokdee Dimsum Corporation Company Ltd (in the process of stepping down)
World Alternative Energy Co., Ltd
World Property and Asset Co., Ltd
World Design And Construction Co., Ltd
N Hospital Co., Ltd
Western U Education Co Ltd
World Dental Hospital Co., Ltd
EDU Corporation PCL
CC Property A Co., Ltd
WTU Wacharaphol Dormitory (Formerly, Worldbuild Construction Co., Ltd.)
WTU Kanchanaburi Dormitory Co., Ltd. (Formerly, CC Property B Co., Ltd.)
Chiya Corporation Co., Ltd
WTU Asset Co., Ltd
WTU Burirum Co Ltd