Change - Announcement of Cessation::Resignation of Chief Financial Officer - Mr. Yau Woon Soon

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GROUP LIMITED - SG2F03983689 - 5UN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Apr-2020 21:30:12
Status
New
Announcement Sub Title
Resignation of Chief Financial Officer - Mr. Yau Woon Soon
Announcement Reference
SG200422OTHR1G26
Submitted By (Co./ Ind. Name)
Chu Ming Kin
Designation
Chief Executive Officer & Executive Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Mr Bernard Lui. Tel: +65 6389 3000 Email: bernard.lui@morganlewis.com

Additional Details

Name Of Person
Yau Woon Soon
Age
32
Is effective date of cessation known?
Yes
If yes, please provide the date
01/05/2020
Detailed Reason (s) for cessation
Mr. Yau Woon Soon has tendered his resignation as Chief Financial Officer of the Company ("CFO") on 16 April 2020 to pursue his personal career advancement. The Sponsor has interviewed Mr. Yau Woon Soon and is satisfied that there are no other reasons for the departure. Mr Yau Woon Soon has confirmed that in his view, save for the bond and the Company's receivables due from Artwell and Richardson, which have been disclosed in the annual report for the financial year ended 31 December 2019, there are no other matters which should be brought to the attention of shareholders.

Mr. Yau Woon Soon is currently serving his 2 month notice period, which was shortened to 2 weeks after the Company agreed to offset his outstanding leave balance.

He will be working closely with Mr. Robby, the executive director and chief operating officer of Orion Energy Resources Pte. Ltd., and Ms. Mellissa Long, the corporate development director, to ensure a smooth transition and handover of duties while the Company finds a replacement for the position of CFO or equivalent. The Company will make the necessary announcements when a suitable candidate is appointed.
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
12/06/2018
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Responsible for the overall financial, accounting, compliance reporting and internal control functions 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
Past (for the last 5 years)
Nil
Present
Nil