Change - Announcement of Cessation::Cessation as Executive Director, Chief Operating Officer and General Manager (Balmaine)

Issuer & Securities

Issuer/ Manager
SHEN YAO HOLDINGS LIMITED
Securities
SHEN YAO HOLDINGS LIMITED - SGXE51426224 - A78
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Feb-2022 17:55:27
Status
New
Announcement Sub Title
Cessation as Executive Director, Chief Operating Officer and General Manager (Balmaine)
Announcement Reference
SG220225OTHRLV6K
Submitted By (Co./ Ind. Name)
Yao Liang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Please refer to the attachment.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Chia Beng Kwan, Registered Professional, W Capital Markets Pte. Ltd., 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 65133541.

Additional Details

Name Of Person
Wang Yong
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
28/02/2022
Detailed Reason (s) for cessation
Mr Wang Yong has resigned from his positions due to health reasons.

The Sponsor, having spoken to Mr Wang Yong, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Wang Yong.
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
01/01/2022
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director, Chief Operating Officer and General Manager (Balmaine)
Role and responsibilities
The Executive Director is responsible for the overall management, operations, strategic planning and business development of the Group.

The Chief Operating Officer is responsible for overseeing and managing the day-to-day administrative and operational functions of the Group and reports directly to the Chief Executive Officer.

The General Manager (Balmaine) is responsible for the management and operations of Balmaine Gold Pty Ltd.

Mr Trevor Callow, currently the Mine Manager of Balmaine Gold Pty Ltd, will assume the role of Acting General Manager (Balmaine) and will be responsible for the management and operations of Balmaine Gold Pty Ltd until a suitable candidate is found for the role of General Manager (Balmaine).
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?
No
Past (for the last 5 years)
Karfa Pty Ltd
Balmaine Gold Pty Ltd
Golden Point Group Pty Ltd
Ironbark Mining Pty Ltd
Moliagul Mining Pty Ltd
Shen Yao Capital Pty Ltd
Yaoo Investments Pty Ltd
Present
Deep Value Pte. Ltd.