Change - Announcement of Cessation::RESIGNATION OF CHIEF EXECUTIVE OFFICER AND RE-DESIGNATION TO NON-EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
SINOPIPE HOLDINGS LIMITED
Securities
SINOPIPE HOLDINGS LIMITED - SG1S70928191 - X06
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Aug-2016 17:25:46
Status
New
Announcement Sub Title
RESIGNATION OF CHIEF EXECUTIVE OFFICER AND RE-DESIGNATION TO NON-EXECUTIVE DIRECTOR
Announcement Reference
SG160806OTHRFNG6
Submitted By (Co./ Ind. Name)
Mr Wang Sen
Designation
Executive Chairman And Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Executive Officer and re-designation of Executive Director to Non-Executive Director.

Additional Details

Name Of Person
Mr Tommy Lybianto
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
06/08/2016
Detailed Reason (s) for cessation
Mr Wang Sen, Chairman of the Board is currently resident in the People's Republic of China ("PRC") where our principal subsidiaries operate and is familiar with the business environment of the PRC. Mr Wang Sen is also now able to commit more time to attend to the urgent and critical operational issues encountered by the subsidiaries in the PRC. Nominating Committee had reviewed the qualifications and working experience of Mr Wang Sen and found him to be a suitable candidate for appointment as Chief Executive Officer and Executive Director. As such, Mr Wang Sen is recommended to take over the roles of Chief Executive Officer and Executive Director from Mr Tommy Lybianto.
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
02/07/2016
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Director
Role and responsibilities
Overseeing the overall day-to-day management, sales and operations of the Group and is also responsible for formulating and implementing business strategies and policies of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Tommy Lybianto is deemed to own the 29,401,600 shares which are held by his father, Mr Kusnadi Lybianto.
Past (for the last 5 years)
Nil.
Present
PT. Triwira Insanlestari, TBK