Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
Y VENTURES GROUP LTD.
Securities
Y VENTURES GROUP LTD. - SG1DH7000008 - 1F1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-Apr-2024 17:43:52
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240402OTHRTD7U
Submitted By (Co./ Ind. Name)
Low Yik Jin
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent Director at Annual General Meeting - Mr Ng Tiong Gee

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST").

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

The contact person for the Sponsor is Mr Leong Weng Tuck - Registered Professional, 36 Robinson Road, #10-06 City House, Singapore 068877, sponsor@rhtgoc.com

Additional Details

Name Of Person
Ng Tiong Gee
Age
61
Is effective date of cessation known?
Yes
If yes, please provide the date
22/04/2024
Detailed Reason (s) for cessation
Mr Ng Tiong Gee ("Mr Ng") is subject to retirement pursuant to Regulation 117 of the Company's Constitution at the Company's forthcoming Annual General Meeting for the Financial Year Ended 31 December 2023 to be held on 22 April 2024 (the "AGM").

Mr Ng has decided not to seek re-election at the AGM and his retirement from the Board as an Independent Director of the Company will take effect upon the conclusion of the AGM.

Following Mr Ng's retirement as an Independent Director of the Company, he shall cease to be a Member of the Audit Committee, Nominating Committee, and Remuneration Committee, effective at the conclusion of the AGM.

Based on its enquiries, the Sponsor is satisfied that, save as disclosed in this announcement of cessation, there are no other material reasons for the retirement of Mr Ng as an 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
29/05/2017
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)
3
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 Director, Audit Committee Member, Nominating Committee Member and Remuneration Committee Member
Role and responsibilities
Non-Executive.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Ng is deemed to be interested in 100,000 ordinary shares held under a custodian nominee account.
Past (for the last 5 years)
1. Darby Connect Pte. Ltd.
2. GYP Properties Limited (delisted from the SGX-ST)
3. Yppy Pte. Ltd.
Present
1. Digi8gg Private Limited
2. Pacific Radiance Ltd.
3. Ren Ci Hospital
4. Trype Private Limited
5. Yellow Pages Pte. Ltd.
6. Yellow Pages Singularity Pte. Ltd.
7. YP Academy Pte. Ltd.
8. 8VI Holdings Limited