Change - Announcement of Cessation::Resignation of Mr. Kuan Cheng Tuck as Lead Independent Director

Issuer & Securities

Issuer/ Manager
KORI HOLDINGS LIMITED
Securities
KORI HOLDINGS LIMITED - SG2F40988253 - 5VC
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Apr-2024 06:52:32
Status
New
Announcement Sub Title
Resignation of Mr. Kuan Cheng Tuck as Lead Independent Director
Announcement Reference
SG240412OTHR39MT
Submitted By (Co./ Ind. Name)
Hooi Yu Koh
Designation
Executive Chairman and CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Lead Independent Director

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Kuan Cheng Tuck
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr. Kuan Cheng Tuck ("Mr. Kuan") has served on the Board of Directors (the "Board") for more than ten years since his appointment as Director of the Company on 16 November 2012. As part of the board renewal process, Mr. Kuan has tendered his resignation as Director of the Company and will be stepping down as Lead Independent Director of the Company after the conclusion of the Annual General Meeting to be held on 29 April 2024 ("AGM").

Concurrently, he will relinquish his position as Chairman of the Audit Committee and member of the Nominating and Remuneration Committees after the conclusion of the AGM.

After having interviewed Mr. Kuan and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no material reasons for the resignation of Mr. Kuan as a Non-Executive and 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
16/11/2012
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.)
Lead Independent Director
Chairman of AC and member of NC and RC
Role and responsibilities
Non-Executive, Chairman of AC and member of NC and RC
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Green Build Technology Limited
Present
CNMC Goldmine Holdings Limited
Hoe Leong Corporation Ltd.
Karin Technology Holdings Limited
Taka Jewellery Holdings Limited
KCT Consulting Pte. Ltd.
Konifer Realty Sdn. Bhd.
Kreston Consulting Pte. Ltd.
Tahua Realty Sdn. Bhd.