Change - Announcement of Cessation::Retirement of Independent Chairman (Mr. John Lim Yew Kong)

Issuer & Securities

Issuer/ Manager
ZICO HOLDINGS INC.
Securities
ZICO HOLDINGS INC. - MYA007968003 - 40W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Apr-2024 12:53:05
Status
New
Announcement Sub Title
Retirement of Independent Chairman (Mr. John Lim Yew Kong)
Announcement Reference
SG240428OTHR6GNW
Submitted By (Co./ Ind. Name)
Datuk Ng Hock Heng
Designation
Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. John Lim Yew Kong as the Independent Chairman of the Company.

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Vanessa Ng.
Tel: 6389 3065 Email: vanessa.ng@morganlewis.com

Additional Details

Name Of Person
John Lim Yew Kong
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
27/04/2024
Detailed Reason (s) for cessation
As Mr. John Lim Yew Kong ("Mr. John") has served as an Independent Director of the Company for more than nine years from the date of his first appointment on 7 August 2014, he will cease to be independent pursuant to Rule 406(3)(d) of the Catalist Rules which took effect from 1 January 2023. Mr. John therefore will be retiring and will not seek re-election as a director of the Company at the AGM. Upon retirement, Mr. John will also relinquish his position as the Independent Chairman of the Board, the Chairman of Audit and Risk Committee and Remuneration Committee as well as the member of Nominating Committee.

The Board of Directors express its gratitude and appreciation to Mr. John for his invaluable contributions during his tenure as the director of the Company over the past nine years.

Information relating to the re-designation of Independent Chairman and the re-composition of the Board Committees will be released in a separate announcement.
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
07/08/2014
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Chairman
Chairman of Audit and Risk Committee
Member of Nominating Committee
Chairman of Remuneration Committee
Role and responsibilities
Independent Chairman
Chairman of Audit and Risk Committee
Member of Nominating Committee
Chairman of Remuneration Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
300,000 ordinary shares
Past (for the last 5 years)
Global Invacom Group Limited, Lead Independent Director, Chairman of the Audit and Risk Committee, a member of
the Nominating Committee and Remuneration Committee

ZICO Capital Pte. Ltd., Independent Non-Executive Director

Karin Technology Holdings Limited, Independent
Non-Executive Director, Chairman of the Remuneration
Committee and a member of the Audit and Risk Committee
and Nominating Committee
Present
ZICO Asset Management Pte. Ltd., Independent
Non-Executive Director