Change - Announcement of Cessation::Cessation of Director, Joint Executive Chairman and Joint CEO of the Company

Issuer & Securities

Issuer/ Manager
ASCENT BRIDGE LIMITED
Securities
ASCENT BRIDGE LIMITED - SG1AJ1000006 - AWG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Oct-2025 19:23:48
Status
New
Announcement Sub Title
Cessation of Director, Joint Executive Chairman and Joint CEO of the Company
Announcement Reference
SG251001OTHREG0G
Submitted By (Co./ Ind. Name)
Foo Soon Soo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Sun Quan as Director, Joint Chairman and Joint Chief Executive Officer of the Company.

Additional Details

Name Of Person
Sun Quan
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
01/10/2025
Detailed Reason (s) for cessation
Mr Sun informed the Board that as sole shareholder and director of MTBL Global Holdings Pte. Ltd ("MTBLGH"), he wished to commit his time and focus on the proposed voluntary conditional general offer by MTBLGH and its concert parties to acquire all the shares of the Company not owned by them. Mr Sun therefore notified the Company of his resignation as Director, Joint Chairman and Joint Chief Executive Officer ("CEO") of the Company, and all executive positions and directorships in the subsidiaries of the Group. Please refer to the Company's earlier announcement on 30 May 2025.

Please refer to the Company's announcements on 24 July 2025 and 22 August 2025 on the deferment of Mr Sun's resignation.

Following the announcement of a mandatory unconditional general offer ("MGO") by Montelion Global Holdings (formerly known as MTBLGH) for the Company's shares not owned by it, and as announced on 22 August 2025, for compliance with the Code on Take-overs and Mergers ("Code") Mr Sun's resignation was deferred until further notice.

Following the closing of the MGO on 30 September 2025, the resignation of Mr Sun will take effect from 1 October 2025.
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
30/04/2018
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.)
Joint Chairman and Joint Chief Executive Officer
Role and responsibilities
Mr Sun oversee the Group's management jointly with Mr Qiu Peiyuan.
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?
Yes
Shareholding Details
Deemed interest of 45,503,087 shares of the Company.
Other Directorships
Past (for the last 5 years)
Please refer to the attachment.
Present
Please refer to the attachment.

Attachments

20251001_ABL_SQ_directorship_rev_Att.pdf
Total size =88K