Change - Announcement of Cessation::Announcement of Cessation as Co-Group Managing Director and Executive Director

Issuer & Securities

Issuer/ Manager
THE HOUR GLASS LIMITED
Securities
THE HOUR GLASS LIMITED - SG1AE9000009 - AGS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Feb-2020 17:28:53
Status
New
Announcement Sub Title
Announcement of Cessation as Co-Group Managing Director and Executive Director
Announcement Reference
SG200213OTHRMSF2
Submitted By (Co./ Ind. Name)
Christine Chan
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Dr Kenny Chan Swee Kheng as Co-Group Managing Director and Executive Director. Dr Chan will remain as a Non-Independent and Non-Executive Director on the Board of Directors of The Hour Glass Limited, and will join the Audit Committee as a member.

Additional Details

Name Of Person
Dr Kenny Chan Swee Kheng
Age
66
Is effective date of cessation known?
Yes
If yes, please provide the date
31/03/2020
Detailed Reason (s) for cessation
Retirement.
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
01/06/2009
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.)
Co-Group Managing Director and Executive Director.
Role and responsibilities
Working with Co-Group Managing Director on business development and providing strategic direction to the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Uncle of Mr Michael Tay Wee Jin, Co-Group Managing Director of The Hour Glass Limited and brother of Dato' Dr Jannie Chan Siew Lee, a deemed substantial shareholder of The Hour Glass Limited.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
The Hour Glass Limited:
Direct: 2,725,497 shares
Deemed (through spouse): 448,878 shares
Past (for the last 5 years)
Nil
Present
Nil

Attachments

Media Release.pdf
Total size =93K