Change - Announcement of Cessation::Resignation of Executive Chairman

Issuer & Securities

Issuer/ Manager
HEATEC JIETONG HOLDINGS LTD.
Securities
HEATEC JIETONG HOLDINGS LTD. - SG1Y31945526 - 5OR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Aug-2024 18:18:30
Status
New
Announcement Sub Title
Resignation of Executive Chairman
Announcement Reference
SG240801OTHR7DNV
Submitted By (Co./ Ind. Name)
Soon Jeffrey
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Chairman.

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance 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 Mr. Pong Chen Yih, Chief Operating Officer, 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Soon Yeow Kwee Johnny
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
01/09/2024
Detailed Reason (s) for cessation
Mr. Soon Yeow Kwee Johnny ("Mr. Soon") has tendered his resignation to facilitate succession planning and Board reorganisation. To assist with the Board transition, Mr. Soon will be appointed as an advisor to the Company, with his continued appointment to be subject to annual review.

After interviewing Mr. Soon and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no material reasons for the resignation of Mr. Soon.
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
20/08/2021
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Role and responsibilities
Mr. Soon is responsible for the provision of strategic direction, management of key client relationships and overseeing the business development of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Soon is the father of Mr. Soon Jeffrey, the Chief Executive Officer and Executive Director of the Company. Mr. Soon Jeffrey is a controlling shareholder of the Company, holding direct and indirect interests in 83,218,181 shares, representing 40.64% of the issued share capital of the Company. Mr. Soon is also a controlling shareholder of the Company holding direct and indirect interests in 22,456,477 shares, representing 10.97% of the issued share capital of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr. Soon is a controlling shareholder of the Company holding direct and indirect interests in 22,456,477 shares, representing 10.97% of the issued share capital of the Company.
Past (for the last 5 years)
1. Ipromar (Pte) Ltd.
2. Ipromar Sdn Bhd
3. Zhoushan Heatec IMC-YY Engineering Co., Ltd.
4. Heatec (Shanghai) Co., Ltd.
Present
Heatec Marine Phils Construction Inc.