Change - Announcement of Cessation::CESSATION OF INDEPENDENT CHAIRMAN

Issuer & Securities

Issuer/ Manager
SERRANO LIMITED
Securities
SERRANO LIMITED - SG1AD7000003 - 40R
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
09-Jan-2018 23:58:44
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT CHAIRMAN
Announcement Reference
SG180109OTHR08TL
Submitted By (Co./ Ind. Name)
Tan Tien Hin Winston
Designation
Non-executive director
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 the sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Choh Thian Chee Irving
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
16/01/2018
Detailed Reason (s) for cessation
Further to the approval of Scheme Creditors for the respective amended schemes of arrangement of Serrano Limited and Serrano Holdings on 20 December 2017, Mr. Choh Thian Chee Irving has resigned to facilitate the restructuring of the Board of Directors of the Company. The Company is assessing suitable candidate(s) for its Board and board committees, and will announce any new appointments in due course.

Based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr. Choh Thian Chee Irving as the Independent Chairman of the Company.
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
02/11/2015
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)
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.)
Independent Chairman, Remuneration Committee Chairman, Audit Committee Member, Nominating Committee Member
Role and responsibilities
Perform functions of Independent Chairman, Remuneration Committee Chairman, Audit and Nominating Committee Member.
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?
No
Past (for the last 5 years)
NIL
Present
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