Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Mar-2022 18:42:36
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Dr Chirasak Chiyachantana
Non-Independent Non-Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Resignation of Independent Director

This announcement has been prepared by NauticAWT Limited (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "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 accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
Dr Kunchit Singsuwan
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Dr Kunchit Singsuwan has tendered his resignation with effect from 16 March 2022 due to an increase in commitment in his professional career.

Following Dr Kunchit Singsuwan's resignation, he will also relinquish his position as the Chairman of Remuneration Committee, Member of Audit Committee and Nominating Committee.

Based on its enquiries, the Company's sponsor, UOB Kay Hian Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Dr Kunchit Singsuwan as an Independent Director of the Company.

The Company is in the process of looking for a suitable candidate to fill the vacancy in the Audit Committee to meet the requirement of a minimum number of not less than three members. The Company will make the necessary announcement(s) on the changes in the composition of the Board and Board Committees in due course.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Remuneration Committee, Member of Audit Committee and Nominating Committee.
Role and responsibilities
Independent Director, Chairman of Remuneration Committee, Member of Audit Committee and Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1. 2S Metal Public Company Limited
2. Baupost Associates Company Limited
3. World Corporation Public Company Limited
4. Yong Thai Public Company Limited