Change - Announcement of Cessation::Retirement of Non-Executive Independent Director

Issuer & Securities

Issuer/ Manager: FIGTREE HOLDINGS LIMITED
Securities: FIGTREE HOLDINGS LIMITED - SG2G36998349 - 5F4
Stapled Security: No

Announcement Details

Announcement Title: Change - Announcement of Cessation
Date &Time of Broadcast: 29-Jul-2024 18:57:16
Status: New
Announcement Sub Title: Retirement of Non-Executive Independent Director
Announcement Reference: SG240729OTHRTOOP
Submitted By (Co./ Ind. Name): Siaw Ken Ket @ Danny Siaw
Designation: Managing Director
Description (Please provide a detailed description of the event in the box below): Please refer to the attachment.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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.

The contact person for the Sponsor is Ms Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

Additional Details

Name Of Person: Lee Kim Huat
Age: 70
Is effective date of cessation known?: Yes
If yes, please provide the date: 29/07/2024
Detailed Reason (s) for cessation: Mr Lee Kim Huat has expressed his intention to retire at the forthcoming Annual General Meeting to be held on 29 July 2024 ("2024 AGM") as he has served on the Board as Non-Executive Independent Director from financial year 2014 to year 2024 (both years inclusive) [from the date of appointment 8 October 2013 to the date of retirement 29 July 2024]. This is also to comply with Rule 406(3)(d)(iv) of the Catalist Rules.

Accordingly, he will retire as a Non-Executive Independent Director, Chairman of the Audit Committee, Nominating Committee member and Remuneration Committee member at the conclusion of the 2024 AGM.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation.

The Company is in the midst of sourcing for the suitable candidate to fill the vacancy so as to meet the requirement of the Catalist Rules on the minimum number of members in the Audit Committee and to take up the role of Audit Committee member by 29 September 2024 and in any case, no latest by 29 October 2024. The Company will update shareholders accordingly once it has appointed a suitable candidate to fill the vacancy.
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: 08/10/2013
Does the AC have a minimum of 3 members (taking into account this cessation)?: No
Number of Independent Directors currently resident in Singapore (taking into account this cessation): 1
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.): Non-Executive Independent Director, Chairman of the Audit Committee, Nominating Committee member and Remuneration Committee member
Role and responsibilities: Duties of Non-Executive Independent Director, Chairman of the Audit Committee, Nominating Committee member and Remuneration Committee member
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: 2,016,281 ordinary shares
Past (for the last 5 years): Figtree Holdings Limited
Nordic Global Holdings Pte. Ltd. and its subsidiaries
Asia Capital Market Advisory Pte. Ltd.
Nordic Port Equipment And. Bhd.
Technics Oil and Gas Limited
Present: Lee Global Capital Pte Ltd
Enzo Global Brand Pte. Ltd.

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