Change - Announcement of Cessation::Retirement of Independent Non-Executive Director - Mr Yip Wah Pung

Issuer & Securities

Issuer/ Manager
UG HEALTHCARE CORPORATION LIMITED
Securities
UG HEALTHCARE CORPORATIONLTD - SGXE48766716 - 8K7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Oct-2024 07:11:31
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director - Mr Yip Wah Pung
Announcement Reference
SG241014OTHRIGWZ
Submitted By (Co./ Ind. Name)
Lee Jun Yih
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Yip Wah Pung as Non-Executive Chairman and Independent Director upon conclusion of the forthcoming Annual General Meeting ("AGM") to be held on 29 October 2024.

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 ("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 Charmian Lim (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Yip Wah Pung
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
29/10/2024
Detailed Reason (s) for cessation
Mr Yip Wah Pung is due to retire at the forthcoming AGM to be held on 29 October 2024, pursuant to Rule 406(3)(d)(iv) of the Listing Manual Section B: Rules of Catalist of the SGX-ST. Upon his retirement as Non-Executive Chairman and Independent Director of the Company, he will relinquish his position as Chairman of the Audit Committee and member of the Nominating and Remuneration Committees.

The Sponsor, after having interviewed Mr Yip Wah Pung, is satisfied that, save as disclosed in this announcement, there are no other material reasons for his retirement as Non-Executive Chairman and Independent 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?
Yes
If Yes, Please provide full details
The Company is in the midst of sourcing for a new candidate to replace Mr Yip Wah Pung and will endeavor to fill the vacancy in the respective Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rules 406(3)(c) and 704(7) of the Catalist Rules. The Company will make relevant announcements on the composition of the Board and Board Committees of the Company after such an appointment, in due course.
Date of Appointment to current position
20/11/2014
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.)
1.Non-Executive Chairman and Independent Director
2.Chairman of Audit Committee
3.Member of Nominating Committee
4.Member of Remuneration Committee
Role and responsibilities
Independent and non-executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Not applicable
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
W.P. Yip & Co