Change - Announcement of Cessation::Cessation of Executive Chairman of the Board

Issuer & Securities

Issuer/ Manager
SERIAL SYSTEM LTD
Securities
SERIAL SYSTEM LTD - SG1E36851343 - S69
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Oct-2021 20:42:26
Status
New
Announcement Sub Title
Cessation of Executive Chairman of the Board
Announcement Reference
SG211005OTHR9Y4Y
Submitted By (Co./ Ind. Name)
Wui Heck Koon
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Chairman of the Board of Serial System Ltd

Additional Details

Name Of Person
Derek Goh Bak Heng
Age
59
Is effective date of cessation known?
Yes
If yes, please provide the date
05/10/2021
Detailed Reason (s) for cessation
Please refer to SGXNet announcement on "Changes in Composition of the Board of Directors" dated 5 October 2021.
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
22/04/1992
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman & Group Chief Executive Officer
Role and responsibilities
Derek Goh Bak Heng is the Executive Chairman and Group Chief Executive Officer of Serial System Ltd with overall management responsibilities for the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Derek Goh Bak Heng is the cousin of Goh Su Teng Sean, the newly appointed Executive Director of Serial System Ltd.

Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Derek Goh Bak Heng holds a total (direct and indirect) of 365,396,970 shares (40.38%) in Serial System Ltd.
Past (for the last 5 years)
Please refer to attachment.
Present
Please refer to attachment.

Attachments

Derek_directorship 28.9.21R.pdf
Total size =96K