Change - Announcement of Cessation::Retirement of Executive Chairman

Issuer & Securities

Issuer/ Manager
P5 CAPITAL HOLDINGS LTD.
Securities
P5 CAPITAL HOLDINGS LTD. - SG1I98885227 - 5AI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jul-2019 20:02:45
Status
New
Announcement Sub Title
Retirement of Executive Chairman
Announcement Reference
SG190726OTHRJZ7K
Submitted By (Co./ Ind. Name)
Ong Bee Hoon
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
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 details of the contact person for the Sponsor are:

Name: Mr. Nathaniel C.V., Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place, #29-01, Republic Plaza Tower 1, Singapore 048619
Tel: (65) 6381 6757

Additional Details

Name Of Person
Lim Kwang Joo
Age
79
Is effective date of cessation known?
Yes
If yes, please provide the date
26/07/2019
Detailed Reason (s) for cessation
We refer to the announcements of the Company in relation to:-
(a) the Proposed Sale of Shares by Substantial Shareholders and Resignation of Executive Directors, dated 23 July 2019 (the "First Announcement"); and
(b) the response to queries from the SGX-ST, dated 25 July 2019.

In connection with the Proposed Sale (as defined in the First Announcement), the Purchaser had requested that the executive directors of the Company cease to be directors of the Company.

Mr Lim Kwang Joo, being one of the executive directors of the Company, did not seek re-election at the Company's Twentieth Annual General Meeting held on 26 July 2019 and has retired in accordance with the Company s Constitution.

Based on its enquiries, the Sponsor is satisfied that, other than disclosed in this Announcement, there are no other material reasons for the cessation of Mr Lim Kwang Joo as Executive Chairman 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
06/03/2000
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)
3
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.)
Executive Chairman
Role and responsibilities
Overall strategic planning and corporate business development
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Lim Kwang Joo is the father of Mr Lim Fong Yee Roland, who is the CEO and Executive Director of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
78,833,333 ordinary shares in the Company
Past (for the last 5 years)
Sunlight Electrical Pte Ltd
Sunlight Electrical (Vietnam) Co., Ltd
Present
Nil