Change - Announcement of Cessation::Resignation of Executive Director of Subsidiaries

Issuer & Securities

Issuer/ Manager
EDITION LTD.
Securities
EDITION LTD. - SG1S42927578 - 5HG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Mar-2019 18:10:17
Status
New
Announcement Sub Title
Resignation of Executive Director of Subsidiaries
Announcement Reference
SG190315OTHRGSQY
Submitted By (Co./ Ind. Name)
Ong Boon Chuan
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes 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 Ms. Tay Sim Yee, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone (65) 6232 3210.

Additional Details

Name Of Person
Ong Kai Hoe
Age
31
Is effective date of cessation known?
Yes
If yes, please provide the date
15/03/2019
Detailed Reason (s) for cessation
Ong Kai Hoe ("Mr Ong") was previously appointed to oversee the property operations and business development functions for the Group however, the Group has exited from the property development business as one of the Group's core businesses in year 2017.

The Company's Sponsor, SAC Capital Private Limited, after having interviewed Mr Ong, is satisfied that other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ong as an Executive Director of the Group's subsidiaries.
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
07/08/2014
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director of Edition Development Pte Ltd, Edition Global Pte Ltd, Edition MY Sdn Bhd, Edition Tunjong Sdn Bhd & Edition Cemerlang Sdn Bhd.
Role and responsibilities
Oversee the property operations and business development functions for the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Son of Mr Ong Boon Chuan, Executive Chairman & Chief Executive Officer of the Company and controlling shareholder of the Company, and Madam Kok Lee Kuen (Spouse of Mr Ong Boon Chuan and controlling shareholder of the Company).
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Edition Development Pte. Ltd.
Edition Global Pte. Ltd.
Edition MY Sdn. Bhd.
Edition Cemerlang Sdn. Bhd.
Edition Tunjong Sdn. Bhd.
TG (2010) Pte Ltd
TG Bayan Pte Ltd
Present
Edition Land Pte Ltd (gazetted to be struck off)