Change - Announcement of Cessation::Cessation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GROUP LIMITED - SG2F03983689 - 5UN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
04-Feb-2016 18:19:04
Status
New
Announcement Sub Title
Cessation of Chief Financial Officer
Announcement Reference
SG160204OTHRXGLV
Submitted By (Co./ Ind. Name)
Chu Ming Kin
Designation
Chairman & Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (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 Gillian Goh, Director, Head of Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Name Of Person
Liu Cheng
Age
33
Is effective date of cessation known?
Yes
If yes, please provide the date
03/02/2016
Detailed Reason (s) for cessation
To pursue personal interests and other career opportunities.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Liu Cheng as the Chief Financial Officer of the Company ("CFO"). In addition, there are no concerns with regards to financial reporting that led to the departure of the CFO and there are no disagreements between the CFO and the Board of Directors of the Company with regards to practices that will have an impact on the Company s financial reporting.
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?
Yes
If Yes, Please provide full details
The Company is in the midst of identifying a suitable and qualified replacement to fill the position of CFO (or its equivalent rank).
Date of Appointment to current position
07/07/2015
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
9
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Responsible for the Group's financial functions including accounting, internal controls, financial and management reporting, financing, capital management, tax, treasury, financial analysis and merger and acquisition.
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?
Yes
Shareholding Details
93,000 ordinary shares in the Company
Past (for the last 5 years)
Nil
Present
Newisland Resources Pte Ltd (Inactive)