Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
LY CORPORATION LIMITED
Securities
LY CORPORATION LIMITED - SG1EC1000003 - 1H8
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Apr-2022 18:00:35
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG220408OTHR7WMY
Submitted By (Co./ Ind. Name)
Tan Yong Chuan
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent Director at the Annual General Meeting

Additional Details

Name Of Person
Lee Dah Khang
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2022
Detailed Reason (s) for cessation
Mr Lee will retire as Independent Director of the Company at the conclusion of the forthcoming Annual General Meeting scheduled to be held on 29 April 2022 and will not be seeking re-election.
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
20/12/2017
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director
Role and responsibilities
Mr Lee served as an Independent Director of the Company. His role is to exercise independence, objective judgement on business affairs of the Company. Together with other independent directors, they act as a check and balance on the Company's management.
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?
Yes
Shareholding Details
Holds interest of 77,000 ordinary shares in LY Corporation Limited.
Past (for the last 5 years)
1. GS Holdings Limited
2. Memiontec Holdings Ltd
3. Orion Management Consultants Pte Ltd
Present
1. Acumen Consultants Pte Ltd
2. Alpine Advisory Pte Ltd
3. Orion BPO Pte Ltd
4. Orion Information Systems Pte Ltd
5. Yang Lee Consulting Pte Ltd