Change - Announcement of Cessation::Relinquishment of Managing Director - Mr Ang Kah Hong

Issuer & Securities

Issuer/ Manager
TIONG WOON CORPORATION HOLDING LTD
Securities
TIONG WOON CORP HOLDING LTD - SG1CF7000004 - BQM
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Sep-2020 17:30:43
Status
New
Announcement Sub Title
Relinquishment of Managing Director - Mr Ang Kah Hong
Announcement Reference
SG200901OTHRDXX0
Submitted By (Co./ Ind. Name)
Joanna Lim Lan Sim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr Ang Kah Hong will relinquish his position as Managing Director but remains as the Executive Chairman of the Company.

Additional Details

Name Of Person
Ang Kah Hong
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
01/09/2020
Detailed Reason (s) for cessation
Following the promotion of Mr Michael Ang Guan Hwa from Deputy Chief Executive Officer to Chief Executive Officer, Mr Ang Kah Hong has relinquished his position as Managing Director. Mr Ang Kah Hong remains as Executive Chairman of the Company.

This is part of the Company's Management succession plan.
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
21/08/1997
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)
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.)
Executive Chairman.
Role and responsibilities
Identifying, formulating, developing and implementing corporate objectives and business strategies for the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Father of Mr Michael Ang Guan Hwa; Brother of Mr Ang Kha King.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
The Company:
Direct interest: 2,246,250 shares
Deemed interest: 90,517,131 shares held by Ang Choo Kim & Sons Pte Ltd

Subsidiaries of the Group: NIL
Past (for the last 5 years)
Please refer to Annexure A
Present
Please refer to Annexure A

Attachments

Annexure A_Ang Kah Hong.pdf
Total size =179K