Change - Announcement of Cessation::Change - Announcement of Cessation

Issuer & Securities

Issuer/ Manager
BLACKGOLD NATURAL RESOURCES LIMITED
Securities
BLACKGOLD NATURAL RESOURCESLTD - SG1AH0000001 - 41H
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Dec-2022 19:48:00
Status
New
Announcement Sub Title
Change - Announcement of Cessation
Announcement Reference
SG221208OTHRDUND
Submitted By (Co./ Ind. Name)
Andreas Rinaldi
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance 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 Sponsor has also not drawn on any specific technical expertise in its review of this announcement.

The contact person for the Sponsor is Mr Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
LIM THIEN SU GERALD
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
08/12/2022
Detailed Reason (s) for cessation
Mr Lim Thien Su Gerald ("Mr Lim") has decided to step down as the Independent Non-Executive Chairman and as Chairman of Nominating Committee as well as member of Audit and Remuneration Committees of the Company to devote more time to his other work commitments. Mr Lim is unable to allocate sufficient time and resources to perform his duties as the Independent Non-Executive Chairman of the Company due to the unexpected changes and developments of his other work commitments accepted after his appointment to the Board.

Following Mr Lim's resignation, the Board and the Nominating Committee are currently in the process of reviewing its composition and the membership of the Board Committees to ensure compliance with the Code of Corporate Governance 2018 and the Catalist Rules and will endeavour to fill the vacancy in the Audit Committee to meet the requirements on the minimum number of not less than three Audit Committee members within two months, but in any case not later than three months as stipulated under Rule 704(7) of the Catalist Rules.

Based on its enquiries, the Company's sponsor, Novus Corporate Finance Pte. Ltd. is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Lim as the 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
21/09/2022
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Chairman, Chairman of Nominating Committee, and member of Remuneration and Audit Committees.
Role and responsibilities
Mr. Lim assumed the roles and responsibilities of Independent Non-Executive Chairman, Chairman of Nominating Committee and member of Remuneration and Audit Committees.
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
Mr Lim holds 750,000 ordinary shares in the share capital of the Company
Other Directorships
Past (for the last 5 years)
November 2010 - May 2021
Hi-P International Pte. Ltd. (formerly known as Hi-P International Limited)

January 2011 - January 2019
Singapore College of Insurance Limited

March 2015 - July 2019
BlackGold Natural Resources Limited

May 1995 - February 2019
H & Q Asia Ventures Ltd (Dissolved - Members' Voluntary Winding Up)

January 2017 - August 2021
Philip General Insurance (Cambodia) PLC
Present
March 1988 - Present
Lim & Lyle Associates Pte. Ltd.

September 2006 - Present
Tampines Central Community Foundation Limited

October 2010 - Present
St Francis Methodist School Ltd.

March 2012 - Present
Royal Andaman Singapore Pte. Ltd.

September 2016 - Present
Phillip Insurance Investments Pte. Ltd.

October 2016 - Present
Phillip Au Group Pte. Ltd.

October 2016 - Present
AU Group Asia Pte. Ltd.

January 2019 - Present
PCMA Holdings Pte. Ltd.

July 2019 - Present
Balkan Holdings Pte. Ltd.

August 2019 - Present
Phillip Insurance Middle East Pte. Ltd.

November 2019 - Present
Kent Ridge Health Private Limited

November 2022 - Present
EUDA Health Holdings Limited