Change - Announcement of Cessation::Cessation as Executive Director and Executive Chairman

Issuer & Securities

Issuer/ Manager
ABUNDANCE INTERNATIONAL LIMITED
Securities
ABUNDANCE INTERNATIONAL LTD - SG1I02877971 - 541
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Mar-2024 17:30:47
Status
New
Announcement Sub Title
Cessation as Executive Director and Executive Chairman
Announcement Reference
SG240327OTHRM04S
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This document has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (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 document, including the correctness of any of the statements or opinions made or reports contained in this document.

Additional Details

Name Of Person
Shi Jiangang
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
27/03/2024
Detailed Reason (s) for cessation
To facilitate compliance with the Code of Corporate Governance, Mr Shi Jiangang ("Mr Shi") will be stepping down as Director of the Company with effect from 27 March 2024, and he will concurrently relinquish his position as Executive Chairman.

Following Mr Shi's resignation, Independent Directors will make up a majority of the Board.

The resignation is also to allow Mr Shi to devote more time to his other business commitments.

As the largest shareholder of the Company (deemed interest in 476,811,412 shares), Mr Shi will continue to remain as Consultant to the Group to advise and assist with the Group business.
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
25/09/2014
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Executive Chairman
Role and responsibilities
Roles and responsibilities of an Executive Director and Executive Chairman
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Shi Jiangang is the father of Ms Shi Minyuan, a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed Interest: 476,811,412 shares
Past (for the last 5 years)
Jiangsu Feixiang Chemicals Co., Ltd.
Jiangsu Feymer Technology Co., Ltd
Suzhou Feixiang Institute of New Materials Co., Ltd
Zhangjiagang Yangtze Petrochemicals Co., Ltd
Wilmington PharmaTech Company LLC
Catalyst & Catalysts Technology Co. Ltd.
Zhangjiagang Hua An Investment Ltd
Shanghai Tiantan Auxiliaries Co., Ltd
Present
Hwa-An International Limited
Feixiang Holdings Private Limited
Fenghuang Holdings Limited
Max Bloom Group Limited
Zeavion Holding Pte Ltd
Gymbo Global Pte Ltd
Gymboree Hong Kong Limited
Gymbo Global Educational Investment Co. Ltd
Multi-D Biotech Pte. Ltd.