Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
ST GROUP FOOD INDUSTRIES HOLDINGS LIMITED
Securities
ST GROUP FOOD IND HLDG LIMITED - SGXE58705265 - DRX
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Oct-2024 12:22:02
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG241016OTHR7QYM
Submitted By (Co./ Ind. Name)
Lim Kok Meng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's Sponsor, Hong Leong Finance Limited. It has not been examined or approved by the Exchange and the Exchange 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 Ms Vera Leong, Vice President, Hong Leong Finance Limited, at 16 Raffles Quay, #01-05 Hong Leong Building, Singapore 048581, telephone (+65) 6415 9881.

Additional Details

Name Of Person
PETER SIM SWEE YAM
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
30/10/2024
Detailed Reason (s) for cessation
Mr Peter Sim Swee Yam ("Mr Sim") will be retiring at the forthcoming annual general meeting of the Company to be held on 30 October 2024. He has decided that he will not seek re-election and will step down as Independent Director of the Company to focus on his other personal commitments.

Following his retirement, Mr Sim will relinquish his roles as a member of the Audit Committee and Remuneration Committee.

The Company's Sponsor, Hong Leong Finance Limited, after having interviewed Mr Sim, is satisfied that other than as disclosed in this announcement, there are no other reasons for his retirement.

The Board would like to extend their appreciation to Mr Sim for his invaluable contribution to the Company during his tenure of service.
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?
Yes
If Yes, Please provide full details
The Board and Nominating Committee have identified a candidate to be appointed as an Independent Director and are in the midst of processing the purposed appointment of the candidate. The Company will make announcement(s) to update shareholders in due course. The Company will ensure that an Independent Director will be appointed in compliance with the Catalist Rules and Companies Act 1967.
Date of Appointment to current position
10/06/2019
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent and Non-Executive Director, a member of the Remuneration Committee and Audit Committee.
Role and responsibilities
Non-executive
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)
1. Mun Siong Engineering Limited
2. Haw Par Corporation Limited
3. Singapore Reinsurance Corporation Limited
4. Singapore Heart Foundation
Present
1. Lum Chang Holdings Limited
2. Singapore Land Group Limited
3. TalkMed Group Limited
4. Sim Law Practice LLC
5. Gravitas Alliance International Pte Ltd
6. SKB & Associates Pte Ltd