Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
NO SIGNBOARD HOLDINGS LTD
Securities
NO SIGNBOARD HOLDINGS LTD. - SG1EA9000009 - 1G6
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Jan-2021 23:26:06
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG210114OTHRWTCM
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Joint Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Independent Director.

The Nominating Committee and Board have identified and shortlisted certain candidates to be appointed as independent directors in place of Leow Chung Chong Yam Soon and Tay Chun Leng Robert (Zheng ChunLing Robert) and are in the later stages of finalising the appointment(s). The Company will make the relevant and necessary announcement(s) upon the appointment(s) of any new independent director of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. ("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 Mr Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd., 6 Raffles Quay, #24-02, Singapore 048580, sponsor@rhtgoc.com.

Additional Details

Name Of Person
Tay Chun Leng Robert (Zheng ChunLing Robert)
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
29/01/2021
Detailed Reason (s) for cessation
Mr Tay Chun Leng Robert ("Mr Tay") will be retiring as an Independent Director of the Company pursuant to Regulation 117 of the Company's Constitution and decided to not seek re-election having considered that the Independent Review Report had been completed and published on 29 April 2020 on SGXNET, it would be an opportune time for the Board to be refreshed with new perspectives whilst Mr Tay will be able to focus more time on his increased work commitments.

Accordingly, he shall be retiring at the conclusion of the Company's upcoming Annual General Meeting to be held on 29 January 2021 and stepping down as Chairman of Nominating Committee, Member of the Audit Committee and Member of Remuneration Committee.

The Company would like to express its gratitude and appreciation towards Mr Tay's valuable contributions to the Board during his tenure and seeing through the completion and publication of the Independent Review.

The Sponsor, after having interviewed Mr Tay, is satisfied that, save as disclosed in the announcement, there are no material reasons for the resignation of Mr Tay as 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
06/11/2017
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, Member of the Audit Committee and Member of Remuneration Committee
Role and responsibilities
Role and responsibilities of Independent Director, Chairman of Nominating Committee, Member of the Audit Committee and Member of Remuneration Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
100,000 shares held through a nominee
Past (for the last 5 years)
ESTC Pte. Ltd.
Present
No Signboard Holdings Ltd.

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