Change - Announcement of Cessation::Cessation of Director

Issuer & Securities

Issuer/ Manager
STAMFORD TYRES CORPORATION LIMITED
Securities
STAMFORD TYRES CORPORATIONLTD - SG1O53913362 - S29
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Nov-2021 07:48:36
Status
New
Announcement Sub Title
Cessation of Director
Announcement Reference
SG211101OTHRMHE4
Submitted By (Co./ Ind. Name)
Heng Michelle Fiona
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Managing Director.

Additional Details

Name Of Person
Wee Kok Wah
Age
75
Is effective date of cessation known?
Yes
If yes, please provide the date
01/11/2021
Detailed Reason (s) for cessation
For health reasons, Mr Wee Kok Wah is stepping down as Managing Director of the Company with effect from 1 November 2021 to take on the role of Founder and Senior Advisor. He will also step down as a member of the Nominating Committee.
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
11/10/1989
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group's President and Managing Director;
NC member
Role and responsibilities
Executive. Mr Wee is responsible for setting the direction, formulating corporate strategies and overall management of the Group's businesses.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Wee is the spouse of Mrs Dawn Wee Wai Ying and father to Dr Wee Li Ann.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct: 43,214,554 shares in Company
Deemed: 50,451,319 shares in Company through Wah Holdings Ltd Ltd (35,913,752 shares) and Mrs Dawn Wee Wai Ying (14,537,567 shares)
Past (for the last 5 years)
Nil
Present
Stamford Tyres Corporation and subsidiaries;
Wah Holdings Pte Ltd