Change - Announcement of Cessation::Resignation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Jun-2022 21:42:22
Announcement Sub Title
Resignation of Lead Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Noraini Latiff
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Lead Independent Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST").

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 Mr Mah How Soon, Registered Professional, at 6 Raffles Quay #24-02, Singapore 048580,

Additional Details

Name Of Person
Thong Yuen Siew Jessie
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To devote more time to other corporate endeavours, for the Company to refresh the Board and to improve on the Board's capabilities and diversity as Ms Thong Yuen Siew Jessie ("Ms Thong") has served as the Company's director for close to 9 years since she was appointed.

The Board has agreed to accept Ms Thong's resignation as Lead Independent Director of the Company with effect from 20 July 2022 or once a suitable replacement have been found, whichever is earlier. There is no notice period required to be served by her.

Following Ms Thong's resignation, she will relinquish her position as Chairman of the Nominating Committee, and member of the Audit and Risk Management Committee and the Remuneration Committee.

Notwithstanding the above, Ms Thong has agreed to continue to provide relevant assistance with regard to the Independent Review and any follow up issues.

After having interviewed Ms Thong and to the best of its knowledge, the Sponsor, RHT Capital Pte. Ltd is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Ms Thong as Lead Independent 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Nominating Committee, and member of the Audit and Risk Management Committee and the Remuneration Committee.
Role and responsibilities
Lead Independent Director, Chairman of the Nominating Committee, and member of the Audit and Risk Management Committee and the Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1. Hualaoda Pte. Ltd.
2. Inception Materials Pte. Ltd.
3. Meg Star Global Services Private Limited
4. Sino Energy Consultants Pte. Ltd.
5. Advance Tubular Tech Pte. Ltd. (Formerly known as Indo Kaya Energi Pte. Ltd)
1. Halogen Foundation (Singapore)
2. Tsing Investments Pte. Ltd.
3. JHT Law Corporation
4. Arrow Consulting Pte. Ltd.
5. IWOW Technology Limited
6. Oasis Commodities Pte. Ltd.