Change - Announcement of Cessation::Retirement of Non-Executive Independent Director

Issuer & Securities

Issuer/ Manager
ADVENTUS HOLDINGS LIMITED
Securities
ADVENTUS HOLDINGS LIMITED - SG1P24916816 - 5EF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Apr-2024 18:23:27
Status
New
Announcement Sub Title
Retirement of Non-Executive Independent Director
Announcement Reference
SG240412OTHRQYHB
Submitted By (Co./ Ind. Name)
Chin Bay Ching
Designation
Executive Director and Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement had been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor") for compliance with the relevant Catalist Rules.

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinion made or reports contained in this announcement.

The contact person for the Sponsor is Ms. Charmian Lim (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Loh Eu Tse Derek
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr Loh Eu Tse Derek has expressed his intention to retire at the forthcoming Annual General Meeting to be held on 29 April 2024 ("2024 AGM") as he has served on the Board for more than 9 years since his appointment in 2014 and to allow for Board renewal.

Accordingly, he will cease as a Non-Executive Independent Director, Chairman of the Nominating Committee and a member of the Audit and Remuneration Committees.

Based on its enquiries, the Company's sponsor, SAC Capital Private Limited, is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation.

The Company is in the midst of searching for a suitable candidate to fill the vacancy so as to meet the requirement of the Catalist Rules on the minimum number of members on the Audit Committee within 2 months, but in any case no later than 3 months from the date of the 2024 AGM and will update shareholders accordingly.
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
25/07/2014
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.)
Non-Executive Independent Director, Chairman of the Nominating Committee and member of the Audit and Remuneration Committees
Role and responsibilities
Duties of Non-Executive Independent Director, Chairman of the Nominating Committee and member of the Audit and Remuneration Committees
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Metech International Limited
DISA Limited
Federal International (2000) Ltd
K2 F&B Holdings Limited
Kitchen Culture Holdings Ltd
Vietnam Enterprise Investments Limited
Present
TSMP Law Corporation
Adventus Holdings Limited
Kingsmen Creatives Ltd
Memiontec Holdings Ltd
Vibrant Group Limited
Camembert Holdings Pte. Ltd.
St. Joseph's Institution International Elementary School Ltd.
St. Joseph's Institution International Ltd.
St. Joseph's Institution Philanthropic Fund for the Lasallian Mission Ltd