Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
MM2 ASIA LTD.
Securities
MM2 ASIA LTD. - SG1DC0000006 - 1B0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Jul-2024 22:59:31
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240716OTHRMJ0Z
Submitted By (Co./ Ind. Name)
Melvin Ang Wee Chye
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Thomas Lei Chee Kong ("Mr Lei") as Independent Director

Additional Details

Name Of Person
Thomas Lei Chee Kong
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
31/07/2024
Detailed Reason (s) for cessation
Mr Lei has served on the Board of Directors ('the Board") of the Company of more than nine years. In view of nine-year tenure limit for the Independent Directors prescribed under the Listing Manual of the Singapore Exchange Securities Trading Limited, Mr Lei, who is due to retire at the Company's Annual General Meeting ("AGM") pursuant to Regulation 110 of the Constitution of the Company, will not seek for re-election as a Director at the conclusion of the AGM to facilitate board renewal.

Following Mr Lei's retirement, Mr Lei shall cease to be Independent Director, Chairman of Nominating Committee, Acting Chairman of Remuneration Committee and member of Audit Committee.

The Company would like to express its gratitude and appreciation for Mr Lei's valuable contributions to the Board during his tenure as Independent Director 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
04/11/2014
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, Acting Chairman of Remuneration Committee and member of Audit Committee
Role and responsibilities
Independent Director, Chairman of Nominating Committee, Acting Chairman of Remuneration Committee and member of Audit Committee
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?
Yes
Shareholding Details
Direct Interest - 1,457,100
Past (for the last 5 years)
Nil
Present
Applied Nanotek Private Limited