Change - Announcement of Cessation::CESSATION AS EXECUTIVE DIRECTOR & CHIEF EXECUTIVE OFFICER OF SPACKMAN ENTERTAINMENT GROUP LIMITED
Issuer & Securities
SPACKMAN ENTERTAINMENT GROUP LIMITED
SPACKMAN ENTERTAINMENT GRP LTD - SG1AB0000004 - 40E
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION AS EXECUTIVE DIRECTOR & CHIEF EXECUTIVE OFFICER OF SPACKMAN ENTERTAINMENT GROUP LIMITED
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
The Company was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 22 July 2014. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
Name Of Person
Lee Tae Hun
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Lee Tae Hun ("Mr. Lee") has decided to resign as Executive Director and Chief Executive Officer of the Company on his own accord to pursue other business interests.
Despite its repeated attempts, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., has been unable to contact Mr. Lee to ensure that there are no other material reasons for his resignation as the Executive Director and Chief Executive Officer of 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?
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?
If Yes, Please provide full details
The Company is in the midst of identifying a suitable candidate to replace the role of Mr. Lee. In the interim, Mr. Charles Choi Spackman, the Executive Chairman of the Company, will be assuming the roles and responsibilities of Mr. Lee, supported by the management team of the Company.
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.)
Executive Director and Chief Executive Officer of the Company.
Role and responsibilities
Mr. Lee was appointed as a Director of the Company with effect from 11 February 2014.
Mr. Lee was appointed as Executive Director and Chief Executive Officer of the Company with effect from 20 June 2014. Mr. Lee is responsible for developing the businesses of the Group and manages the day-to-day operations with the assistance of key management personnel. Mr. Lee also oversees the execution of the business and corporate strategy decisions made by the Board.
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?
Mr. Lee has a direct interest in 28,360,000 ordinary shares in the Company.
Past (for the last 5 years)
United Pictures Co., Ltd.
Opus Pictures Limited Liability Company
Spackman Entertainment Group (HK) Limited
Spackman Entertainment Korea Inc.
Upper West Inc.
Opus INT Co. Ltd
Opus Press Limited Liability Company