Change - Announcement of Cessation::Cessation as Executive Director

Issuer & Securities

Issuer/ Manager
ZICO HOLDINGS INC.
Securities
ZICO HOLDINGS INC. - MYA007968003 - 40W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Feb-2021 18:41:36
Status
New
Announcement Sub Title
Cessation as Executive Director
Announcement Reference
SG210228OTHRT0Q0
Submitted By (Co./ Ind. Name)
Chew Seng Kok
Designation
Managing Director
Effective Date and Time of the event
01/03/2021 17:00:00
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Liew Foong Yuen as Executive Director of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Asian Corporate Advisors Pte. Ltd., in accordance with Rule 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ("Exchange") Listing Manual Section B: Rules of Catalist ("Catalist Rules") for compliance with the relevant rules of the Exchange. The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made. Kindly note that the Company's Sponsor has not conducted an exit interview with Mr Liew at the date of this announcement. If there are any material information following the interview with him, the Company will make such necessary announcements as required under Catalist Rule 704(6).

This announcement has not been examined or approved by the Exchange and the Exchange 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 Foo Quee Yin.
Telephone number: 6221 0271

Additional Details

Name Of Person
Liew Foong Yuen
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
28/02/2021
Detailed Reason (s) for cessation
Mr Liew Foong Yuen has decided not to renew his service contract with ZICO Holdings Inc. ("Company"). The service contract expires on 28 February 2021. Following the expiry of the service contract, he will step down as Executive Director of the Company on 28 February 2021.
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
07/08/2014
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Overall management of the Advisory and Transactional Services Segment of the Group.
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
As at the date of this announcement, Mr Liew Foong Yuen holds 6,643,332 shares in the Company amounting to 2.04% of the ordinary shares in the Company.
Past (for the last 5 years)
None.
Present
1. Keck Seng (Malaysia) Berhad, Independent Non-Executive Director
2. ZICO Corporate Services Sdn Bhd, Director
3. ZICO Malaysia Sdn Bhd, Director
4. B.A.C.S. Private Limited, Director
5. ZICO Asset Management Pte Ltd, Director
6. ZICO Capital Pte Ltd, Director
7. ZICO Corporate Services Pte Ltd, Director
8. ZICO RMC Pte Ltd, Director
9. ZICO-Stamford Corporate Services Pte Ltd, Director