Change - Announcement of Cessation::Cessation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
ASPIAL CORPORATION LIMITED
Securities
ASPIAL CORPORATION LIMITED - SG1G71871634 - A30
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2024 21:38:00
Status
New
Announcement Sub Title
Cessation of Lead Independent Director
Announcement Reference
SG240429OTHRXK3T
Submitted By (Co./ Ind. Name)
Lim Swee Ann
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Aspial Corporation Limited (the "Company") would like to announce the cessation of Mr Wong Soon Yum ("Mr Wong") as Lead Independent Director at the conclusion of the Annual General Meeting held on 29 April 2024. Following his cessation, Mr Wong relinquished his positions as Chairman of the Audit Committee, a member of the Nominating Committee and Remuneration Committee.

The Board expresses its appreciation to Mr Wong for his dedication and invaluable contribution during his tenure of service.

Additional Details

Name Of Person
Wong Soon Yum
Age
80
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr Wong has been serving as an Independent Director of the Company for more than nine (9) years since his appointment. In compliance with the amended Rule 210(5)(d)(iv) of the Singapore Exchange Securities Trading Limited, which prescribed a nine-year tenure limit for independent directors. Mr Wong has decided to step down as an Independent Director of the Company upon the conclusion of the Annual General Meeting on 29 April 2024.
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
27/05/1999
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)
2
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.)
Lead Independent Director, Chairman of the Audit Committee, Member of the Remuneration Committee and Nominating Committee.
Role and responsibilities
Lead Independent Director, Chairman of the Audit Committee, Member of the Remuneration Committee and Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Aspial Corporation Limited
Present
Nil