Change - Announcement of Cessation::Cessation as Managing Director

Issuer & Securities

Issuer/ Manager
BONVESTS HOLDINGS LIMITED
Securities
BONVESTS HOLDINGS LTD - SG2R04002568 - B28
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jul-2022 17:18:00
Status
New
Announcement Sub Title
Cessation as Managing Director
Announcement Reference
SG220701OTHRN7QB
Submitted By (Co./ Ind. Name)
Foo Soon Soo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation as Managing Director

Additional Details

Name Of Person
Henry Ngo
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2022
Detailed Reason (s) for cessation
For purpose of succession planning, Mr Ngo has stepped down as Managing Director to enable the appointments of Mr Gary Xie and Mr Andy Xie as Joint Managing Directors. Mr Ngo will continue as Executive Chairman 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
25/03/1983
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman & Managing Director (up to 30 June 2022)
Chairman (effective from 1 July 2022)
Role and responsibilities
Responsible for mapping out the corporate and growth strategy of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Father of Executive Directors, Mr Gary Xie and Mr Andy Xie.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Substantial shareholder of Bonvests Holdings Limited:
Direct Interest - 85,357,128 shares
Deemed Interest - 251,094,569 shares
Past (for the last 5 years)
Nil
Present
Director of Allsland Pte Ltd
Director of all the subsidiaries of Bonvests Holdings Limited