Change - Announcement of Cessation::Resignation of Non-Executive Chairman and Independent Director who is also an Audit Committee Member

Issuer & Securities

Issuer/ Manager
DESIGN STUDIO GROUP LTD.
Securities
DESIGN STUDIO GROUP LTD. - SG1O90915222 - D11
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Jan-2020 22:17:14
Status
New
Announcement Sub Title
Resignation of Non-Executive Chairman and Independent Director who is also an Audit Committee Member
Announcement Reference
SG200114OTHR9AI5
Submitted By (Co./ Ind. Name)
Hazel Chia
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Ms Tan Siok Chin as Non-Executive Chairman and Independent Director, member of Audit Committee and Chairman of Nominating and Remuneration Committees.

Additional Details

Name Of Person
Tan Siok Chin
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
14/01/2020
Detailed Reason (s) for cessation
Having served on the Board since 2006, Ms Tan Siok Chin has decided to step down as Non-Executive Chairman and Independent Director on 14 January 2020 for progressive renewal of the Board.
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
01/01/2006
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Chairman and Independent Director, member of Audit Committee and Chairman of Nominating and Remuneration Committees.
Role and responsibilities
Acted as Non-Executive Chairman and Independent Director, member of Audit Committee and Chairman of Nominating and Remuneration Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
1) Advance Capital Partners Asset Management
Private Limited
2) Kauai Investments Pte Ltd (struck-off)
3) LEGALSTANDARD-ACIES LLC (struck-off)
Present
1) ACIES Law Corporation
2) Cosmosteel Holdings limited
3) Valuetronics Holdings Limited