Change - Announcement of Cessation::RETIREMENT OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
PNE INDUSTRIES LTD
Securities
PNE INDUSTRIES LTD - SG1BF2000001 - BDA
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Jan-2024 17:46:04
Status
New
Announcement Sub Title
RETIREMENT OF INDEPENDENT DIRECTOR
Announcement Reference
SG240102OTHRZKCE
Submitted By (Co./ Ind. Name)
Tan Meng Siew
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent Director at the Annual General Meeting and ceased to be the Chairman of Nominating Committee and a member of Audit Committee and Remuneration Committee.

Additional Details

Name Of Person
Tan Lee Khiang
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
18/01/2024
Detailed Reason (s) for cessation
As part of the Board renewal process, Mr Tan Lee Khiang will be retiring by rotation pursuant to Regulation 93 of the Constitution of PNE Industries Ltd ("PNE"). The Board and Management of PNE would like to express their gratitude to Mr Tan Lee Khiang for his invaluable contributions and guidance to the Board and the PNE Group. Upon his retirement from the Board at the conclusion of the annual general meeting to be held on 18 January 2024, Mr Tan Lee Khiang will also step down as Chairman of Nominating Committee and a member of both the Audit and Remuneration Committees.
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
04/05/2000
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.)
- Independent Director
- Chairman of Nominating Committee
- Member of Audit Committee
- Member of 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
25,000
Past (for the last 5 years)
NIL
Present
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