Change - Announcement of Cessation::Resignation of Non-Executive Non-Independent Director and Chairman, Mr Lee Chye Cheng, Adrian

Issuer & Securities

Issuer/ Manager
CAPALLIANZ HOLDINGS LIMITED
Securities
CAPALLIANZ HOLDINGS LIMITED - SG1H44875935 - 594
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Mar-2022 20:16:10
Status
New
Announcement Sub Title
Resignation of Non-Executive Non-Independent Director and Chairman, Mr Lee Chye Cheng, Adrian
Announcement Reference
SG220308OTHRB4IQ
Submitted By (Co./ Ind. Name)
Pang Kee Chai, Jeffrey
Designation
Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Non-Independent Director and Chairman, Mr Lee Chye Cheng, Adrian

This announcement has been prepared by CapAllianz Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor (the "Sponsor"), ZICO Capital Pte. Ltd., in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

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 Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03, Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Lee Chye Cheng, Adrian
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
09/03/2022
Detailed Reason (s) for cessation
Mr Lee Chye Cheng, Adrian ("Mr Lee") has tendered his resignation as the Non-Executive Non-Independent Director and Chairman of the board of directors (the "Board") of CapAllianz Holdings Limited (the "Company", and together with its subsidiaries, the "Group") ("Resignation").

Having considered the Group's strengthened balance sheet following the completion of the Company's recent placement exercise and having served on the Board for more than nine years since his date of appointment as a director of the Company, Mr Lee tendered his resignation to allow for Board rejuvenation which would be beneficial for the Group and the Company's shareholders. Following the Resignation, Mr Lee will also cease to be a member of the Audit Committee and the Remuneration Committee of the Company.

After having interviewed Mr Lee 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 Resignation.

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
14/01/2022
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Board, Non-Executive Non-Independent Director as well as a member of the Audit Committee and Remuneration Committee.
Role and responsibilities
Assumed the roles and responsibilities of the Chairman of the Board, Non-Executive Non-Independent Director, as well as a member of the Audit 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
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 9,798,652 shares in the Company
Past (for the last 5 years)
Raimon Land PLC
Interlink Petroleum Limited
Present
KE Group Thailand
Jit Sun Investments Pte Ltd