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

Issuer & Securities

Issuer/ Manager
ALSET INTERNATIONAL LIMITED
Securities
ALSET INTERNATIONAL LIMITED - SG1AE2000006 - 40V
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Apr-2024 22:00:17
Status
New
Announcement Sub Title
Announcement of Cessation of Lead Independent Non-Executive Director
Announcement Reference
SG240415OTHRDL2G
Submitted By (Co./ Ind. Name)
Chan Tung Moe
Designation
Executive Director and Co-Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange assumes 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 Ms. Vera Leong, Vice President, Hong Leong Finance Limited, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, telephone (+65) 6415 9881.

Additional Details

Name Of Person
Tao Yeoh Chi
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
Mr. Tao Yeoh Chi ("Mr. Tao") will not seek for re-election at the Company's annual general meeting held on 30 April 2024 ("AGM") in view of the tenure limit for independent directors. Accordingly, Mr. Tao will retire as a Lead Independent Non-Executive Director of the Company and as a member of Nominating Committee ("NC") of the Company at the conclusion of the AGM.

Mr. Tao confirms that there are no concerns or disagreements with the Board or management of the Company over matters involving the Company that led to his retirement.

The Company's Sponsor, Hong Leong Finance Limited, after having interviewed Mr. Tao, is satisfied that, save as disclosed in the announcement, there are no material reasons for the retirement of Mr. Tao as an Independent Non-Executive Director 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
27/06/2013
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Non-Executive Director and NC Member
Role and responsibilities
Independent Director
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?
Yes
Shareholding Details
2,000,000 shares of the Company.
Past (for the last 5 years)
UON, Singapore Pte. Ltd.
Universe Group (Singapore) Pte Ltd
ST Telecommunications (Beijing) Co., Ltd.
Present
Global Resources & Consultants Pte. Ltd.
Eratat Lifestyle Limited (in the process of liquidation)
Ntegrator Holdings Limited