Change - Announcement of Cessation::CESSATION OF NON-EXECUTIVE INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
HYFLUX LTD
Securities
HYFLUX LTD - SG1J47889782 - 600
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Feb-2020 23:54:11
Status
New
Announcement Sub Title
CESSATION OF NON-EXECUTIVE INDEPENDENT DIRECTOR
Announcement Reference
SG200207OTHRCYRI
Submitted By (Co./ Ind. Name)
Lim Poh Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr Simon Tay has resigned as Non-Executive Independent Director of the Company with effect from 7 February 2020. Consequently, Mr Simon Tay ceased as a member of the Company's Risk Management and Investment Committees.

Additional Details

Name Of Person
Simon Tay
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
07/02/2020
Detailed Reason (s) for cessation
Voluntary resignation by the director citing his inability to fulfill his duties as an independent director.
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?
Yes
If Yes, Please provide full details
Yes, the unresolved differences in opinion and the material matter in question were highlighted via a post on the Company's website earlier today, prior to the resignation of the director. However, none of those differences will have a material impact on the group or its financial reporting.
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
03/05/2011
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)
6
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.)
Non-Executive Independent Director, Member of Risk Management and Investment Committees.
Role and responsibilities
Fulfilling the responsibility of an 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
Hyflux Ltd:

(1)500,000 6% Perpetual Capital Securities held in his own name.

(2)350,000 Share Options held in his own name.
Past (for the last 5 years)
Please refer to Appendix 1 as attached.
Present
Please refer to Appendix 1 as attached.

Attachments

SGX Announcement - Directorship of Simon Tay_Appendix 1.pdf
Total size =151K