Change - Announcement of Cessation::Cessation of Chief Executive Officer and Executive Director

Issuer & Securities

Issuer/ Manager
GRP LIMITED
Securities
GRP LTD - SG1CD2000004 - BLU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Sep-2023 17:18:49
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer and Executive Director
Announcement Reference
SG230925OTHRBSN3
Submitted By (Co./ Ind. Name)
Colin Tay Yong Lee
Designation
Managing Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer and Executive Director of the Company, Mr David Hsieng Loong Su.

Additional Details

Name Of Person
David Hsieng Loong Su
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
18/09/2023
Detailed Reason (s) for cessation
The Company has given notice of cessation to Mr David Hsieng Loong Su ("Mr Su"), who will cease to act as the Chief Executive Officer and Executive Director of the Company, with effect from 18 September 2023. The Company had earlier required Mr Su to cease exercising and performing his powers and duties arising from or relating to his appointment as the Chief Executive Officer of the Company on 2 August 2023.
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
Please refer to the Company's announcements in relation to cessation of powers and duties of the Chief Executive Officer and Executive Director dated 2 August 2023, response to SGX queries dated 7 August 2023, termination of sale and purchase of shares agreement dated 7 August 2023, and response to SGX queries dated 20 September 2023.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company's announcements in relation to cessation of powers and duties of the Chief Executive Officer and Executive Director dated 2 August 2023, response to SGX queries dated 7 August 2023, termination of sale and purchase of shares agreement dated 7 August 2023, and response to SGX queries dated 20 September 2023.
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company's announcements in relation to cessation of powers and duties of the Chief Executive Officer and Executive Director dated 2 August 2023, response to SGX queries dated 7 August 2023, termination of sale and purchase of shares agreement dated 7 August 2023, and response to SGX queries dated 20 September 2023.
Date of Appointment to current position
05/06/2023
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Executive. Mr Su is responsible for managing and overseeing the overall business strategy and development of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
None
Present
1. Glory Fund Management Group Pte. Ltd.
2. Amare Investment Management Group Pte. Ltd.
3. Amare-Greenland Property Investments (AGPI) Pte. Ltd.
4. Amare-Greenland Hospitality Investments (AGHI) Pte. Ltd.
5. Amare-Greenland Hospitality Management (AGHM) Pte. Ltd.
6. Amare Hotels & Resorts Worldwide Pte. Ltd.
7. Global Capital Asia Pte. Ltd.
8. SDS Global Investments Corporation Pte. Ltd.
9. Credere Investment Management Inc. Pte. Ltd.
10. Omega Global Management Corporation Pte. Ltd.
11. Alpha-Huzhou Moon Hotel (Singapore) Investment Pte. Ltd.