Change - Announcement of Cessation::Resignation of Financial Controller

Issuer & Securities

Issuer/ Manager
Y VENTURES GROUP LTD.
Securities
Y VENTURES GROUP LTD. - SG1DH7000008 - 1F1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Apr-2020 15:14:30
Status
New
Announcement Sub Title
Resignation of Financial Controller
Announcement Reference
SG200419OTHRQABA
Submitted By (Co./ Ind. Name)
Lew Chern Yong
Designation
Executive Chairman and Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Goh Lay Lan as Financial Controller of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assume no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is:
Name: Mr Leong Weng Tuck, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619
Telephone: (65) 6381 6966

Additional Details

Name Of Person
Goh Lay Lan
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
18/05/2020
Detailed Reason (s) for cessation
To pursue other career opportunities.

Ms Goh Lay Lan ("Ms Goh") is currently serving her one (1) month notice period. She will be working closely with Ms Lam May Yih, the new Chief Financial Officer of the Company, to ensure a smooth transition and handover of duties including assisting in the ongoing independent review ("Independent Review") by Deloitte & Touche Enterprise Risk Services Pte. Ltd. ("Deloitte"). Ms Lam May Yih will assume the roles and responsibilities of Ms Goh. Details of the qualifications and working experience of Ms Lam May Yih are set out in the Company's announcement of appointment of Chief Financial Officer dated 19 April 2020.

Ms Goh has confirmed that she is not aware of any concerns with regards to the financial reporting of the Company and the ongoing Independent Review that might have led to her resignation. Notwithstanding her resignation as Financial Controller of the Company, in relation to the Independent Review, Ms Goh has agreed to continue to provide all relevant assistance that is necessary or required from Deloitte, the Company's Sponsor and/or Singapore Exchange Regulation (SGX RegCo) and has further committed to do so until the completion of the Independent Review.

Based on its enquiries, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Ms Goh as the Financial Controller 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?
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
16/07/2019
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)
4
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.)
Financial Controller
Role and responsibilities
Executive. Responsible for the Group's overall finance, compliance, corporate governance, accounting functions and providing strategic planning, budgeting and forecasting.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
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