Change - Announcement of Cessation::RESIGNATION OF CHIEF EXECUTIVE OFFICER AND GROUP MANAGING DIRECTOR

Issuer & Securities

Issuer/ Manager
ALLIED TECHNOLOGIES LIMITED
Securities
ALLIED TECHNOLOGIES LIMITED - SG1O07910928 - A13
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Dec-2017 17:41:31
Status
New
Announcement Sub Title
RESIGNATION OF CHIEF EXECUTIVE OFFICER AND GROUP MANAGING DIRECTOR
Announcement Reference
SG171227OTHRRAA1
Submitted By (Co./ Ind. Name)
Ong Wei Jin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr Hsu Ching Yuh @ Sheu Ching Yuh has resigned as Chief Executive Officer and Group Managing Director of the Company to pursue his personal interest.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch (the "Sponsor"), for compliance with the relevant rules of the SGX-ST, being the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST and the Sponsor assume no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lee Chee Cheong, Associate Director, Investment Banking, Singapore. The contact particulars are 50 Raffles Place, #09-01 Singapore LandTower, Singapore 048623, Telephone +65 63375115.

Additional Details

Name Of Person
Hsu Ching Yuh @ Sheu Ching Yuh
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
29/12/2017
Detailed Reason (s) for cessation
Mr Hsu has resigned as Chief Executive Officer and Group Managing Director of the Company to pursue his personal interest.

The Company would like to express gratitude towards his effort and contribution during his tenure with 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?
Yes
If Yes, Please provide full details
Mr Darren Chen Yu King, the Executive Director, will oversee the Group's strategic investment and corporate planning activities and Ms Tan Siang Keng, the Chief Operating Officer, will oversee the daily operating activities of the Group's South East Asia businesses and Suzhou subsidiary after the cessation of Mr Hsu as Chief Executive Officer and Group Managing Director.
Date of Appointment to current position
12/05/2003
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
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Group Managing Director
Role and responsibilities
Involves in strategic development, expansion and oversees the overall operational activities of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Hsu is the cousin of Mr Yu Yi Chang. Mr Yu and his wife, Ms Yeh Shun Wei are deemed to have an interest in New Outlook Limited, the substantial shareholder of the Company.

New Outlook Limited owns 78,819,308 of ordinary shares in the Company as at the date of announcement.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
As at the date of announcement, Mr Hsu holds 249,697,000 ordinary shares in the Company.
Past (for the last 5 years)
Allied Machineries (Shanghai) Co., Ltd.
Taicang Shanfeng Hardware Co., Ltd.
Taicang Nengfa Jingmao Weiye Fazhan Co., Ltd.
Allied Technologies (Dongguan) Co., Ltd.
Allied Technologies (Taiwan) Co., Ltd.
Allied Precision Manufacturing (M) Sdn. Bhd.
Allied Technologies (Suzhou) Co., Ltd.
Yitong Precision Technology (Suzhou) Co., Ltd.
Allied Technologies (Saigon) Co., Ltd.
Allied Precision (Thailand) Co., Ltd
Present
Nil