Change - Announcement of Cessation::Cessation of Executive Chairman
Issuer & Securities
AYONDO LTD. - SG1ED1000001 - 1I5
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Chairman
Submitted By (Co./ Ind. Name)
+65 6816 9169
Description (Please provide a detailed description of the event in the box below)
Re-designation of Director from Executive Chairman to Non-Executive Chairman - Mr Thomas Winkler.
ayondo Ltd. (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 26 March 2018. The initial public offering of the Company was sponsored by UOB Kay Hian Private Limited (the "Sponsor").
This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement.
The contact persons for the Sponsor are Mr Lan Kang Ming, Vice President, and Mr Gregory Wee Toon Lee, Assistant Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
The re-designation of Mr Thomas Winkler ("Mr Winkler") from Executive Chairman to Non-Executive Chairman arose as a result of his impending executive position in a blockchain initiative while continue to stay committed to the Group.
The re-designation of Mr Winkler as the Non-Executive Chairman of the Company was reviewed and approved by the Nominating Committee and the Board whom, after considering the above reason, are of the view that, amongst others, the re-designation is in the interest of the Company.
Following the re-designation, Mr Winkler will also cease as director of ayondo Asia Pte. Ltd. and ayondo Markets Limited. He will, however, continue to remain as a director of ayondo Holding AG.
The Company's Sponsor, UOB Kay Hian Private Limited, after having interviewed Mr Winkler, is not aware of any other material reasons for the re-designation of Mr Winkler from Executive Chairman to Non-Executive Chairman of the Company.
The Company's strategic direction and daily operations will continue to be overseen by the Chief Executive Officer, Mr Robert Lempka.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Role and responsibilities
Executive. Responsible for the formulation of the Group's strategic business directions and managing the Group's external relationship with key shareholders and investors. He is also responsible for overseeing the implementation of the business goals and objectives of the Group, and identifying new strategic business opportunities and directions to augment the Group's existing operations.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Mr Winkler holds 2,296,517 ordinary shares in the Company and is deemed to be interested in the 423,360 ordinary shares held by his
spouse, Mrs Astrid Winkler and by virtue of Section 4 of the SFA and Section 7 of the Companies Act, Mr Winkler is deemed to be
interested in the ordinary shares held by the following companies:
(i) 17,535,420 ordinary shares held by Global Money Ventures AG;
(ii) 6,013,980 ordinary shares held by Next Generation Finance Management AG; and
(iii) 3,788,100 ordinary shares held by Baltische Bauentwicklungsgesellschaft mbH.
Past (for the last 5 years)
1. ayondo GmbH
2. Sycap Group (UK) Limited
3. Bluevalor AG
1. ayondo Holding AG
2. ayondo Asia Pte. Ltd.*
3. ayondo Markets Limited*
4. Global Money Ventures AG
5. Next Generation Finance Distribution AG
6. Next Generation Finance Management
*Mr Winkler will step down as director of ayondo Asia Pte. Ltd. and ayondo Markets Limited following his re-designation.