Change - Announcement of Cessation::Resignation as Chief Executive Officer, Construction Business

Issuer & Securities

Issuer/ Manager
SOILBUILD CONSTRUCTION GROUP LTD.
Securities
SOILBUILD CONSTRUCTION GRP LTD - SG2F78993043 - S7P
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Mar-2024 17:40:45
Status
New
Announcement Sub Title
Resignation as Chief Executive Officer, Construction Business
Announcement Reference
SG240307OTHRU8KZ
Submitted By (Co./ Ind. Name)
LIM HAN REN
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Ong Eng Hwa as Chief Executive Officer, Construction Business of Soilbuild Construction Group Ltd.

Additional Details

Name Of Person
Ong Eng Hwa ("Mr Ong")
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
15/03/2024
Detailed Reason (s) for cessation
To pursue his personal interests.

The Audit Committee, Nominating Committee and the Board of Directors are not aware of any other material reasons for the cessation of Mr Ong as the Chief Executive Officer, Construction Business of Soilbuild Construction Group Ltd. (the "Company") and its subsidiaries (the "Group").
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?
Yes
If Yes, Please provide full details
The Nominating Committee has performed an exit interview and reviewed the reasons for Mr Ong's resignation as stated above, and has ascertained that there are no other material reasons in respect of the Company for his resignation.

Mr Lim Han Ren ("Mr Lim"), Executive Director, who is also assuming the role of Group Chief Executive Officer, will continue to be responsible for the overall management of the Company and the Group. He will also continue to drive the development and execution of business strategies and spearhead the growth of the Group, along with the rest of the management team.
Date of Appointment to current position
01/02/2023
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, Construction Business
Role and responsibilities
Mr Ong was responsible for running the day-to-day operations of the Company's and the Group's construction business, and was responsible for implementing the Company's and the Group's strategies and policies.
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
Nil