Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
GLOBAL INVESTMENTS LIMITED
Securities
GLOBAL INVESTMENTS LIMITED - SGXC73602341 - B73
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Jun-2020 17:33:26
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG200619OTHRGA3R
Submitted By (Co./ Ind. Name)
Wong Yen Sim
Designation
Assistant Secretary
Effective Date and Time of the event
19/06/2020 17:00:00
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Tan Kok Wee as an Independent Director at the conclusion of Annual General Meeting held on 19 June 2020.

Additional Details

Name Of Person
Tan Kok Wee
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
19/06/2020
Detailed Reason (s) for cessation
Mr Tan Kok Wee will not stand for re-election at the 2020 AGM as part of the Board renewal process and to uphold standard of corporate governance as his tenure as an independent director has reached nine years. Consequently, he ceased to act as the Chairman of the Audit and Risk Management Committee and a member of the Nomination and Governance Committee.
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
30/04/2010
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)
3
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.)
Independent Director, Chairman of the Audit and Risk Management Committee and member of the Nomination and Governance Committee.
Role and responsibilities
Non-executive and Independent Director
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?
No
Past (for the last 5 years)
Nil
Present
Nil