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

Issuer & Securities

Issuer/ Manager
PENGUIN INTERNATIONAL LIMITED
Securities
PENGUIN INTERNATIONAL LIMITED - SG1CI0000005 - BTM
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2021 17:49:22
Status
New
Announcement Sub Title
Retirement of Non-Executive and Independent Director
Announcement Reference
SG210429OTHRRMZ0
Submitted By (Co./ Ind. Name)
Heng Michelle Fiona
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Penguin International Limited ("PIL" or the "Company") would like to announce the retirement of Mr Paul Tan Poh Lee as a Non-Executive and Independent Director after the conclusion of the Company's Annual General Meeting ("AGM") held on 29 April 2021.

Additional Details

Name Of Person
Paul Tan Poh Lee
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2021
Detailed Reason (s) for cessation
As part of the Board renewal process, Mr Tan retired by rotation pursuant to Regulation 92 of the Company's Constitution at the conclusion of the AGM. Accordingly, he stepped down as Chairman of the Remuneration Committee and a member of the Audit and Risk Committee. Mr Tan served as an Independent Director of the PIL Board since 8 May 2017. The Board and Management of PIL would like to express their gratitude to Mr Tan for his invaluable contributions to the Board during his time with 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?
No
Date of Appointment to current position
08/05/2017
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Independent Director
Member of Audit and Risk Committee
Chairman of Remuneration Committee
Role and responsibilities
Non-Executive and Independent Director
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)
Keppel Philippines Holdings Inc

Present
PT Nongsa Point Marina (Indonesia);
k1 Ventures Limited (in liquidation);
Penguin International Limited.