Change - Announcement of Cessation::Cessation of Independent Director
Issuer & Securities
KITCHEN CULTURE HOLDINGS LTD.
KITCHEN CULTURE HOLDINGS LTD. - SG2D45972171 - 5TI
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Independent Director
Submitted By (Co./ Ind. Name)
Lim Wee Li
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director.
Mr Chua Siong Kiat ("Mr Chua") has tendered his resignation as an Independent Director of the Company on 30 August 2020, evening. Mr Chua's resignation has been noted and accepted by the Board of Directors of the Company on 31 August 2020 and in view of the reason given, the Board has unanimously agreed that his resignation be effective from 31 August 2020.
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes 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 Ms. Lee Khai Yinn (Tel (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Name Of Person
Chua Siong Kiat
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Due to health reasons, whereby Mr Chua is acting upon medical advice to reduce his workload and other principal commitments so as to recuperate and recover his health.
SAC Capital Private Limited, after having interviewed Mr Chua, is satisfied that other than as disclosed in this announcement, there are no other reasons for the resignation of Mr Chua.
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?
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.)
Independent Director, Chairman of the Remuneration Committee and member of the Audit and Nominating Committees of the Company.
Role and responsibilities
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?
Past (for the last 5 years)
Omni Sharing Pte. Ltd.
Pacific Star Development Limited
Durabeau Industries Pte Ltd
LH Aluminium Industries Pte. Ltd.
Autotrax International Pte. Ltd.
Autovox Korea Co., Ltd
V Capital Investment Pte. Ltd.
Libra Group Limited
China Star Food Group Limited (resigning)
Lighthouse Business Consulting Pte. Ltd.
National Arthritis Foundation (resigning)
Starwork Vision Pte. Ltd.
Robotic Vision Inc. Pte. Ltd.
Axington Inc. (resigning)
New Silkroutes Group Limited