Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SINGAPORE EDEVELOPMENT LIMITED
Securities
SINGAPORE EDEVELOPMENT LTD - SG1AE2000006 - 40V
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2017 20:11:52
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG170331OTHR6U0Y
Submitted By (Co./ Ind. Name)
Chan Heng Fai
Designation
Executive Director and Chief Executive Officer
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 Hong Leong Finance Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

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 Tang Yeng Yuen, Vice President, Head of Corporate Finance, Hong Leong Finance Limited, at 16 Raffles Quay, #40-01A Hong Leong Building, Singapore 048581, telephone: +65 6415-9886.

Additional Details

Name Of Person
CHAN YU MENG
Age
45
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2017
Detailed Reason (s) for cessation
Mr Chan Yu Meng ("Mr Chan") had retired pursuant to Regulations 89 and 90 of the Company's Constitution. Mr Chan had decided not to seek for re-election as Independent Director of the Company.

Based on its enquiries, the Company's sponsor, Hong Leong Finance Limited, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the retirement of Mr Chan as an Independent Director of Singapore eDevelopment Limited.
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
27/06/2013
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Nominating Committee and a member of the Audit and Risk Management Committee and Remuneration Committee
Role and responsibilities
Independent Director
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
Mr Chan Yu Meng has 530,667 employee share options which are exercisable into shares of the Company at an exercise price of S$0.12 as at the date of this Announcement.
Past (for the last 5 years)
PSL Holdings Limited
Present
Nil