Change - Announcement of Cessation::Resignation of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
SINO GRANDNESS FOOD INDUSTRY GROUP LIMITED
Securities
SINO GRANDNESS FOOD IND GP LTD - SG2G19997136 - T4B
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Mar-2021 20:47:02
Status
New
Announcement Sub Title
Resignation of Chief Financial Officer
Announcement Reference
SG210311OTHRWDDK
Submitted By (Co./ Ind. Name)
HUANG YUPENG
Designation
CHAIRMAN AND CEO
Description (Please provide a detailed description of the event in the box below)
Mr Leyng Thai Weng has resigned as the Chief Financial Officer of the Company with effect from 10 March 2021.

Additional Details

Name Of Person
Leyng Thai Weng
Age
39
Is effective date of cessation known?
Yes
If yes, please provide the date
10/03/2021
Detailed Reason (s) for cessation
(i) Lack of supports from management and finance department of PRC subsidiaries to discharge the duties as CFO of the Company.
(ii) Repeatedly delayed in the salary payment with outstanding salary remain unpaid.

The Board notes Mr Leyng's comments above and wishes to inform that the Company's management and finance department did not fail to cooperate. Regarding the issue of wage arrears, the finance department has explained in detail to Mr Leyng that it is because the bank account that pays the wages is in a frozen state and the management is actively dealing with it.
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?
Yes
If Yes, Please provide full details
No other matter save for reasons stated above and the matters disclosed in the annual report for FY2019.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
11/08/2020
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Responsible for providing leadership and direction for all aspects of financial planning, internal control compliance, financial reporting matters of the Company and its Group of companies, and communication of financial performance and forecast of the Group's performance to the Board of Directors and SGX.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N.A.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
N.A.
Present
N.A.