Change - Announcement of Cessation::Resignation of Executive Director and Chief Executive Officer - Koh Beng Kiok Anthony

Issuer & Securities

Issuer/ Manager
MC PAYMENT LIMITED
Securities
MC PAYMENT LIMITED - SGXE15822534 - TVV
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jul-2021 23:23:35
Status
New
Announcement Sub Title
Resignation of Executive Director and Chief Executive Officer - Koh Beng Kiok Anthony
Announcement Reference
SG210701OTHRHZGG
Submitted By (Co./ Ind. Name)
Shirley Tan Sey Liy
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules").

This announcement has not been examined or approved by 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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Koh Beng Kiok Anthony
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2021
Detailed Reason (s) for cessation
On 30 June 2021, Mr Koh Beng Kiok Anthony ("Mr Koh") tendered his resignation as the Executive Director and Chief Executive Officer ("CEO") of the Company with immediate effect. Accordingly, Mr Koh ceased to be an Executive Director of the Company on 30 June 2021. However, Mr Koh will remain with the Group until his last day of service on 30 December 2021 (after serving a 6-month notice period pursuant to his service agreement entered into with the Company) to ensure a smooth transition and complete handover of his duties as the CEO.

Pursuant to Mr Koh's resignation letter, Mr Koh has indicated that the recent spate of events has taken a toll on his personal life and health, and he is not in the best position to meet the Company's demands and needs at this juncture.

Based on its enquiries with Mr Koh and to the best of its knowledge, the Company's sponsor, ZICO Capital Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Koh as the Executive Director and CEO 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
18/02/2021
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Executive. Mr Koh was responsible for the overall strategic direction and development of the Company and its subsidiaries (the "Group") as well as for overseeing the marketing efforts and the technical operations of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None, save for Mr Koh being a substantial shareholder of the Company (details as set out herein).
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
16,011,893 ordinary shares (5.88%) of the Company
Past (for the last 5 years)
Other Principal Commitments:
Nil

Directorships:
Bitecoin Pte. Ltd.
Bitechain Pte. Ltd.
Ffastmall Limited
MLSG Technology Ventures Pte. Ltd.
Amazingtech Pte. Ltd.
Kepha Furnishing Pte. Ltd.
iFashion Group Pte. Ltd.
MC Payment (HK) Limited
Kohsson Capital Pte. Ltd.
Present
Other Principal Commitments:
Nil

Directorships:
MC Payment (M) Sdn Bhd
Genesis Payment Solutions Private Limited
MC Global Venture Pte. Ltd.
Ffastpay Pte. Ltd.
MC Pay Pte. Ltd. (fka Mobile Credit Payment Pte. Ltd.)
MCP Holdings (Thailand) Co., Ltd.
MC Payment (Thailand) Co., Ltd.
Remsea Pte. Ltd.