Change - Announcement of Cessation::Retirement of Non-Executive Chairman and Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Apr-2024 18:30:04
Announcement Sub Title
Retirement of Non-Executive Chairman and Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Dr Alex Tan Pang Kee
Chief Executive Officer/ Managing Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST").

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 contact person for the Sponsor is Mr Joseph Au - Registered Professional, RHT Capital Pte. Ltd., 36 Robinson Road, #10-06 City House, Singapore 068877,

Additional Details

Name Of Person
John Chen Seow Phun
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
After serving more than 9 years from the date of his appointment as an independent director of the Company, Dr John Chen Seow Phun ("Dr. John Chen") will be retiring as Non-Executive Chairman and Independent Director of the Company pursuant to Regulation 89 of the Company's Constitution. Accordingly, he shall be retiring at the conclusion of the Company's upcoming Annual General Meeting to be held on 26 April 2024 and stepping down as Chairman of Audit Committee, Member of the Nominating Committee and Remuneration Committee.

The Company would like to express its gratitude and appreciation towards Dr. John Chen's valuable contributions to the Board during his tenure.

Based on its enquiries and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Dr. John Chen as Non-Executive Chairman and Independent Director of the Company.

The Company has identified a suitable candidate to fill the vacancy to meet the minimum number of members within the Audit Committee of the Company pursuant to the Catalist Rules and shall update shareholders on the appointment as and when appropriate.
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.)
Non-Executive Chairman and Independent Director, Chairman of Audit Committee, Member of Nominating and Remuneration Committees
Role and responsibilities
Non-Executive Chairman and Independent Director, Chairman of Audit Committee, member of Nominating and Remuneration Committees
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?
Shareholding Details
Direct Interest - 140,000 Ordinary Shares
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