Change - Announcement of Cessation::Cessation as non-executive Independent Chairman

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Mar-2019 19:01:54
Announcement Sub Title
Cessation as non-executive Independent Chairman
Announcement Reference
Submitted By (Co./ Ind. Name)
Arica Walters
Executive Director
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, CIMB Bank Berhad, Singapore Branch (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST"), Listing Manual Section B: Rules of Catalist. The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 Yee Chia Hsing, Head, Catalist, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.

Additional Details

Name Of Person
Tay Chuan Hui
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pursue my family and other personal interests.

Based on its enquiries, the Company's Sponsor, CIMB Bank Berhad, Singapore branch, is satisfied that save as disclosed in this announcement, there is no other material reason for the cessation of appointment of Tay Chuan Hui.

The Board is in the process of looking for suitable candidates for an independent director and a member of Audit Committee, and will update shareholders once confirmed.
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.)
Non-Executive Chairman & Independent Director
Role and responsibilities
The Non-Executive Chairman sets the tone for the conduct of the Board and ensures the Group adhere to best corporate governance practices as prescribed by the Code. He leads the Board to ensure its effectiveness on all aspects of its role, ensures that the Board holds regular meetings and ensures the timeliness and quality of information flow between the Board and the Management. He also encourages constructive relations within the Board and between the Board and Management.
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?
Shareholding Details
100,000 shares in Versalink Holdings Limited
Past (for the last 5 years)
Malaysia Venture Capital Management Berhad
Mind-Quest Consultancy Sdn Bhd
Harrison Assessments (Malaysia) Sdn Bhd
Omni View Consulting (M) Sdn Bhd
Anchor Resources Limited
Vistage Malaysia Sdn Bhd